LME Aluminum Inventory Drops to 306,700 mt, Down 0.49% Daily, 9.59% Monthly

[SMM Aluminum Brief] In the coal tar pitch market, coal tar raw material prices were stagnant. Deep-processing operating rates rose slightly, leading to a modest increase in supply. Downstream anode enterprises purchased on a just-in-time basis and pushed for lower prices while adopting a wait-and-see stance, intensifying the supply-demand tug-of-war. Next week, the market is expected to continue its weak consolidation: raw material prices will see no significant fluctuations, downstream players are unlikely to restock in a concentrated manner, and prices lack upward momentum, with a high probability of a slight decline.

[SMM Aluminum Brief] In the petroleum coke market, domestic refineries were in concentrated maintenance, tightening supply of domestic petroleum coke. Demand-side divergence was evident: downstream carbon enterprises’ just-in-time procurement slightly recovered, and the month-end stockpiling period triggered some restocking demand, providing phased support. However, the anode material industry maintained a strong wait-and-see sentiment, slowing the procurement pace of low-sulphur petroleum coke. At the same time, imported coke continued to arrive at ports, offsetting the benefits from tightening domestic supply and significantly curbing upward price momentum. Bullish and bearish factors balanced each other, so the domestic petroleum coke market likely consolidated in the short term.