Markets see renewed strength as expectations of interest-rate cuts combine with resilient demand and constrained supply, thereby boosting both Shanghai Metals Market (SHFE) and London Metal Exchange (LME) aluminium prices. alcircle

Summary :

Inventory side, this Thursday, the inventory of aluminium ingots in major domestic consumption areas recorded 596,000 tonnes, flat w-o-w and flat from this Monday. According to SMM, one aluminium producer offered its first CIF Japan main ports aluminium ingot premium for Q1 2026 at USD190 per tonne, up from the Q4 2024 offer. In terms of industry growth momentum, global ESS battery cell production is entering a period of rapid growth: production reached 363 GWh in 2024, is projected to climb to 540 GWh in 2025, up 48.8 per cent y-o-y; even with a larger base, the growth rate in 2026 is expected to remain at a relatively high level of 35.2 per cent, with global ESS battery cell production expected to reach 730 GWh by then.

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