SMM Aluminum Spot Commentary: Inventory Declines Push Shanghai Aluminum to High Levels, Spot Basis Gains

**SMM Aluminum Spot Afternoon Commentary: Aluminum Inventory Continues to Decline, Shanghai Aluminum Consolidates at High Levels, Spot Basis Improves**

SMM November 4th News

According to the latest inventory data from SMM, the arrival of aluminum ingots in Xinjiang, China, remained limited last week, with insufficient shipments to mainstream markets, resulting in a continued decline in aluminum ingot inventory. As of this Monday, inventories in the Wuxi region fell by 9,000 tonnes to 177,000 tonnes compared to last Thursday, while inventories in the Gongyi region increased slightly by 3,000 tonnes to 67,000 tonnes compared to the same day last week. Domestic aluminum ingot social...