China's Aluminum Ingot Inventory Falls on October 15

[SMM cast aluminum alloy morning comment: Cast aluminum futures fell with increased open interest, spot continued steady adjustments] Overnight, the aluminum alloy 2612 contract opened at 22,890 yuan/mt, drifted lower after the open, dipped to an intraday low of 22,660 yuan/mt, and closed at 22,725 yuan/mt, down 195 yuan/mt, a decline of 0.85%......

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.

NALCO extends the deadline for proposals to establish manufacturing facilities or secure supplies of aluminium fluoride, calcined petroleum coke and coal tar pitch to October 30.