SMM: Limited Aluminum Arrivals Drive Social Stocks Down, Boosting Spot Basis in China

[SMM Aluminum Spot Afternoon Commentary: Limited Arrivals, Declining Social Aluminum Stocks, and Improved Aluminum Spot Basis Today]

SMM Report on October 21st

According to SMM's latest inventory data, the arrivals of aluminum ingots in China's major consumption regions remained limited on Monday this week, with domestic social aluminum stocks continuing to decline. Only a small amount of aluminum ingots were replenished via road transportation in Wuxi, resulting in a 12,000-ton decrease in aluminum ingot inventory in Wuxi from the previous Thursday to 211,000 tons as of Monday. As of Monday, the total social aluminum ingot inventory in China amounted to approximately 638,000 tons, a decrease from the previous...