Primary aluminium inventories dropped as demand picked up

Futures: In terms of futures performance, the most-traded alumina futures 2605 contract was in the doldrums during the overnight session. After the opening, it surged to 2,694 but failed to break through effectively. With insufficient upward momentum, it subsequently pulled back to close at 2,668, displaying an overall pattern of retreat after rapid rise. Decreased trading volume indicated declining market participation, while open interest edged up, reflecting intensifying divergence between bulls and bears. From a technical perspective, the current price is running above MA5 (2,658.68) and MA10 (2,656.3), still providing some short-term support, but is clearly under pressure from MA20 (2,690.04) and MA40 (2,755.38), with strong resistance from medium-term moving averages, and the overall trend remains weak. In the short term, futures are likely to move sideways, with attention on resistance near the 2,690 level above and support around 2,650 below.

Pekan ini, tingkat utilisasi mingguan perusahaan pengolahan aluminium hilir terkemuka di Tiongkok stabil secara MoM di 64,7%. seperti kaleng, penyimpanan energi, dan otomotif. Namun, harga aluminium berfluktuasi di level tinggi, ekspor ke Timur Tengah terhambat, dan pemulihan konsumsi penggunaan akhir sebagian di bawah ekspektasi, sehingga membatasi ruang kenaikan tingkat utilisasi. Industri ini menunjukkan karakteristik "stabil dengan kemajuan dan divergensi struktural."

[SMM Kilasan Berita Aluminium] Pekan ini, bahan baku aluminium fluorida secara keseluruhan terus berfluktuasi naik. Meskipun harga aluminium hidroksida sedikit melemah, harga asam sulfat melonjak signifikan dan berulang kali mencetak rekor tertinggi baru. Kenaikan biaya yang berkelanjutan ini secara nyata meningkatkan tekanan terhadap produksi dan operasional perusahaan.