[SMM Weekly Survey on Aluminum Downstream: High Fluctuations in Aluminum Prices Suppress Downstream Consumption; Sustainability of Recovery in Export Orders Requires Continuous Monitoring] This week, the operating rate of leading enterprises in China's aluminum downstream processing sector fell by 0.3 percentage points WoW to 61.6%, with a fragmented pattern observed across various segments...

According to SMM statistics, in terms of aluminum billet inventory in two domestic locations, the inventory of aluminum billet in Guangdong was 73,900 mt, and that in Wuxi was 14,300 mt, totaling 88,200 mt, a decrease of 600 mt MoM. After filling the gap at 20,300, the most-traded SHFE aluminum contract struggled to rise, showing range-bound adjustments. Today, processing fees across regions came under pressure and pulled back, with suppliers showing willingness to sell at higher prices. Despite the approaching weekend, downstream buyers were cautious and lacked sufficient purchasing strength. Suppliers were willing to further lower processing fees to facilitate transactions. Both supply and demand in the market were weak, with insufficient trading sentiment. Today, the processing fees in the Foshan aluminum billet market were reported at 300/350 yuan/mt, down by 10 yuan/mt; in the Wuxi market, they were reported at 300/350 yuan/mt, down by 20 yuan/mt; and in the Nanchang region, they were reported at 300/350 yuan/mt, down by 50 yuan/mt. (Unit: yuan/mt)

[SMM Spot Aluminum Midday Review: Supply Tightens in East China, Spot Premiums Continue to Rise]

Details of the hot topics in the aluminum market this week (May 12-15, 2025) are as follows......

According to SMM statistics, the composite operating rate of the domestic aluminum wire and cable industry reached 58.16% in April 2025, up 5.27% MoM from April and up 3.9% YoY from April last year. Since Q2, the industry has maintained a favorable operational trend. From the perspective of enterprise scale, the operating rate of large enterprises increased by 4.65% MoM to 73.56%, that of medium-sized enterprises rose by 5.5% MoM to 51.21%, and that of small enterprises improved by 7.63% MoM to 33.9%.