India Auctions Record 200 Mineral Blocks, Boosting Aluminum Supply Chains

SMM, March 23: Inventory side, aluminum ingot inventory in mainstream consumption areas increased by 8,000 mt MoM today, with destocking mainly coming from Wuxi and Guangdong.

Today, aluminum prices extended their decline, and premiums in central China remained in positive territory. Traders' willingness to purchase and stockpile fell from the previous two days. Although downstream processing enterprises showed some willingness to buy the dip, they still did not make large-scale concentrated purchases, and overall market purchase sentiment weakened. In the end, actual quotes and transaction prices in the central China market fell all the way, from a 50-yuan premium over the central China price before the opening to around parity with the central China price, while suppliers showed no clear willingness to hold prices firm. Today, the central China market shipments sentiment index was 2.63, up 0.01 MoM; the buying sentiment index was 2.48, down 0.03 MoM.

SMM, March 23: In early trading, SHFE aluminum 2604 fluctuated upward, while the price center fell sharply from the previous trading day. Affected by the decline in aluminum prices, overall purchase sentiment rose today, prompting sellers to hold prices firm. Today, mainstream transaction prices in the market were concentrated at SHFE aluminum 04 contract +10 yuan/mt to +20 yuan/mt. Today, the east China market shipments sentiment index was 2.72, down 0.58 MoM; the buying sentiment index was 3.3, up 0.07 MoM.