SMM Midday Review: Aluminum Prices Fluctuate High, Inventory Declines but Premiums Stable

[SMM Spot Aluminum Midday Review: Aluminum Futures and Spot Prices Fluctuate at High Levels, Downstream Prioritizes Inventory Consumption]

Inventory side, according to SMM data on social inventories of aluminum ingots in three major domestic regions, as of March 7, aluminum ingot inventory in major domestic consumption areas stood at 725,000 mt, down 4,800 mt WoW from Monday. Inventory in major consumption areas continued to decline, but due to high absolute prices, downstream buyers were cautious and slowed procurement. Spot premiums lacked upward momentum and are expected to remain relatively stable with a weak trend next week.