This week, domestic aluminum ingot inventories experienced an abrupt significant accumulation, weighing on spot premiums and discounts in major spot markets.
Output cuts in Yunnan will have minimal impact on supply in the spot market in the short term. In the absence of strong demand, spot discounts are unlikely to turn into premiums. SMM sees spot discounts between 10-100 yuan/mt against the SHFE 2311 contract next week.

![Le déstockage accéléré des lingots d'aluminium relève le niveau central des prix de l'aluminium, tandis que la performance de haute saison devrait limiter la marge de hausse [Revue hebdomadaire des prix de l'aluminium SMM]](https://imgqn.smm.cn/usercenter/XLWyP20251217171654.jpg)
![Prix spot stables sur l'ensemble du marché, prix de transaction hors Chine en repli, excédent offre-demande inchangé [Revue hebdomadaire de l'alumine SMM]](https://imgqn.smm.cn/usercenter/YYogD20251217171650.jpg)
