SMM Aluminum Commentary: Prices Surge in Spot and Futures Markets Amid Low Inventory

【SMM Aluminum Spot Afternoon Commentary: Aluminum Prices Rise in Both Spot and Futures Markets, Spot Prices Surge Above RMB 21,000/Ton Again】

SMM November 5th News

According to the latest inventory data from SMM, the arrival of aluminum ingots in Xinjiang, China, remained low last week, with insufficient supplies in the mainstream market, resulting in a continued drawdown of aluminum ingot inventories. As of this Monday, inventories in the Wuxi region declined 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...