SMM Aluminum Spot Commentary: Social Inventory Rises Slightly, Causing Futures Pullback and Basis Weakening

**SMM Aluminum Spot Afternoon Commentary: Slight Increase in Social Inventory, Aluminum Futures Pullback, Spot Basis Weakens**

SMM, November 11

According to the latest inventory data from SMM, as of November 11, 2024, SMM reports that domestic electrolyzed aluminum ingot social inventory totals 576,000 tonnes, an increase of 13,000 tonnes compared to last Thursday's inventory. Specifically, inventory in the Wuxi region has increased by 16,000 tonnes to 187,000 tonnes compared to last Thursday, mainly due to concentrated arrivals from the northwest and southwest regions. Inventory increases in other regions were not significant. In terms of outbound shipments, aluminum spot prices in the previous week...