SMM Aluminum Spot Market Midday Review: Slight Inventory Decline Fails to Boost Prices Amid Firm Quotes

SMM Aluminum Spot Market Midday Review: Slight Destocking Insufficient to Support Prices, Suppliers Stand Firm on Quotes in Multiple Regions

Inventory, according to SMM's domestic aluminum ingot social inventory, showed 827,000 mt of aluminum ingot inventory in major domestic consumption areas on March 24, down 7,000 mt from the previous trading day. In the short term, with the peak season of "Golden March, Silver April" and a rush for PV installations stimulating demand, social inventory is expected to continue destocking. Aluminum prices are more likely to rise than fall, but due to high aluminum prices, the spot market faces resistance in premium increases.