SMM Aluminum Spot Review: Inventory Builds Up, Weakening Spot Transactions Amid Increased Arrivals

[SMM Aluminum Spot Midday Review: Increased Arrivals Over the Weekend Lead to Inventory Buildup and Weaker Spot Transactions]

According to the latest inventory data from SMM, as of Monday, SMM reported domestic aluminum ingot social inventory at 553,000 mt, an increase of 6,000 mt compared to last Thursday. Inventory buildup in Wuxi was significant, increasing by 10,000 mt to around 179,000 mt compared to last Thursday, while inventory in Gongyi remained on par. Outflows from warehouses indicated that downstream demand weakened further compared to last week, coupled with some squeezed inventory arrivals from Xinjiang, leading to weaker destocking. It is expected that this week, the SMM A00 spot aluminum premium will mainly be on parity.