[SMM midday review] South China Aluminum: low prices drive downstream pick-up market transactions better than yesterday

As September draws to a close, "recovery" and "tug-of-war" stand out as the two defining keywords of China's aluminium billet market this month. On one side, supply-side disruptions intensified in stages and inventories shifted from consecutive builds to destocking—a marginal improvement, with outbound volumes rising for two consecutive weeks...

[SMM Analysis: "Double Festival" Approaches: Aluminum Billet Supply Disruptions Intensify in Phases; Processing Fees Return to a Tug-of-War After a V-Shaped Recovery] September is about to close. Looking back at China's aluminum billet market this month, "recovery" and "tug-of-war" are the two most striking key words. On one side, supply-side disruptions intensified in phases, and inventory shifted from continuous buildup to destocking, marking a marginal improvement. Driven by downstream stockpiling ahead of the holiday, warehouse withdrawals rebounded for two consecutive weeks during the month. On the other side, processing fees pulled back again after a V-shaped recovery, and the tug-of-war between sellers and buyers never stopped. Entering the "Double Festival" window, the supply-side disruption patterns throughout September and the supply variables around the National Day holiday have become the core threads for assessing the market outlook...

[SMM Enquête hebdomadaire sur l'aval de l'aluminium] Cette semaine, le taux d'exploitation des principales entreprises chinoises de transformation de l'aluminium en aval s'est établi à 62,1 %, en légère hausse de 0,2 point de pourcentage en glissement hebdomadaire. À l'approche de la fête de la Mi-Automne et de la fête nationale, la constitution de stocks avant les congés s'est déroulée de manière ordonnée, et les taux d'exploitation de tous les secteurs sont restés globalement stables.