[ SMM Analysis ] Aluminum Rod Inventory Sees Seasonal Accumulation After the Holiday, Processing Fee Center Expected to Gradually Rise
China's aluminum rod production in September was 384,000 mt, with an operating rate of 53.2%. Both production and operating rate trended lower under pressure, and the aluminum rod market remained in a severe oversupply situation in September. According to SMM statistics, as of October 9, days of inventories at domestic aluminum rod plants stood at 10.33 days, up 2.19 days from before the holiday. The inventory ratio rose from 106.67% to 137.14%, a sharp increase of 30.47 percentage points, driven mainly by the National Day holiday, representing a typical post-holiday seasonal inventory buildup.