Aluminium billet inventories surged in China on concentrated arrivals of cargoes

[Destocking Pattern Hard to Reverse in Short Term, Aluminum Prices Consolidate and Adjust in Short Term] Overall, geopolitical tensions in the Middle East remain volatile, market concerns over interest rate hikes persist, and supply continues to recover, but the destocking pattern is hard to reverse in the short term. Under the tug-of-war between longs and shorts, aluminum prices are expected to consolidate and adjust in the near term. Going forward, close attention should be paid to the progress of production resumptions in the Middle East and the trends of geopolitical conflicts, LME aluminum ingot inventory changes, and China’s downstream processing orders and aluminum semis export data.

[SMM Aluminum Flash] Stok harian ingot aluminium sekunder di wilayah konsumsi utama China adalah 9.650 mt, turun 450 mt dari hari perdagangan sebelumnya, dengan pengurangan stok 382 mt di Foshan dan 67 mt di Ningbo.

[Komentar Pagi Paduan Aluminium Cor SMM: Kontrak Berjangka Paduan Aluminium Bergerak Naik, Pasar Spot Stabil dalam Kisaran Sempit di Tengah Tarik-Menarik Penjual dan Pembeli] Jumat malam lalu, kontrak paduan aluminium 2609 secara umum bergerak naik pada sesi malam, ditutup pada 23.175 yuan per metrik ton, naik 150 yuan per metrik ton dari harga penyelesaian sebelumnya, dengan kenaikan 0,65%.