SHFE Aluminum Surges as Market Gets Sensationalized by Off-Peak Production Program in Hebei, SMM Reports 

[Kilas Aluminium SMM] Pada 28 Juli, statistik SMM menunjukkan bahwa persediaan harian ingot aluminium sekunder di daerah konsumsi utama di Tiongkok sebanyak 8.612 metrik ton, turun 206 metrik ton dari hari perdagangan sebelumnya, terutama didorong oleh pengurangan stok di Foshan.

[Aluminum Ingot Destocking Continues to Cement Bottom Support; Rate Hike Expectations and Off-Season Demand Constrain Rebound Room] Overall assessment: recently, macro front sentiment has improved slightly. The persistent Middle East geopolitical risk premium and China's continued destocking of aluminum ingots have jointly underpinned the aluminum price movement. However, the ongoing deployment of future aluminum capacity outside China, weak traditional end-use demand in China, and recurring uncertainties from the macro perspective have imposed significant pressure on the upside room for aluminum prices. In the short term, aluminum prices are expected to maintain a consolidation pattern.

[SMM Flash] Data SHFE menunjukkan bahwa pada 27 Juli, total volume terdaftar warrant paduan aluminium cor adalah 17.368 mt, turun 573 mt dari hari perdagangan sebelumnya. Berdasarkan wilayah: Shanghai (1.564 mt, turun 0 mt), Guangdong (1.876 mt, turun 91 mt), Jiangsu (3.865 mt, turun 91 mt), Zhejiang (6.154 mt, turun 362 mt), Chongqing (3.124 mt, turun 29 mt), dan Sichuan (785 mt, turun 0 mt).