Daily Review of Aluminum Scrap: Spot Primary Aluminum Prices Fluctuate Rangebound, Reverse Invoicing Agreements Signed in Some Regions

[SMM Analysis: Countdown to 2024, How Are the 2025 Aluminum Ingot Long-Term Contract Negotiations Progressing?]

[SMM Spot Aluminum Midday Review: Today's Spot Aluminum Transactions Were Moderate, Spot Discounts in East China Narrowed Again]

December 26 News: According to SMM statistics, as of December 26, the social inventory of aluminum ingots in major domestic consumption areas stood at 490,000 mt, a decrease of 13,000 mt WoW; the inventory of aluminum billets in major domestic consumption areas was 103,000 mt, an increase of 4,000 mt WoW.

SMM Morning Comment on Alumina: Domestic alumina operating rates remained largely stable, while downstream demand saw a slight decline due to production cuts in Southwest China. The previously tight alumina supply has somewhat improved. Recently, spot alumina transactions have been relatively sluggish, with sporadic transaction prices showing a lower price center compared to earlier levels. Spot alumina prices in Shanxi and Henan experienced a slight correction. The spot alumina market has yet to see significant supply easing, but downstream buyers exhibit strong resistance to high prices and remain cautious in procurement. In the short term, spot alumina prices are expected to undergo fluctuating adjustments.

[SMM Aluminum Morning Meeting Summary: LME Aluminum Halted for Two Days Due to Holiday, SHFE Aluminum Maintained a Weak Trend Overnight] Overall, on the macro front, the US Fed's interest rate cut pace remains unclear. Fundamentals side, although supply-side pressure has slightly eased, off-season demand remains weak, and the risk of social inventory buildup continues to grow. In the short term, aluminum prices are expected to fluctuate downward.

[ADC12 Price Daily Review] Today, aluminum prices fluctuated rangebound, with SMM A00 aluminum prices rising by 40 yuan/mt from yesterday to 19,830 yuan/mt, while secondary aluminum prices remained largely stable.

[ADC12 Price Daily Review] Today, aluminum prices maintained the upward trend from last Friday. SMM A00 aluminum prices increased by 40 yuan/mt from yesterday to 19,870 yuan/mt, while secondary aluminum prices were adjusted upward steadily.

[SMM Aluminum Morning Meeting Summary: US Dollar Index Hovers Near Two-Year High, Aluminum Ingot Inventory Continues to Decline] Macro front, with the slowdown in market inflation data, expectations for US Fed interest rate cuts in March next year have resurfaced. However, the market is weighing the prospect of relatively small rate cuts next year. The US dollar index hovers near a two-year high, putting pressure on the performance of non-ferrous metals. Inventory side, driven by low aluminum prices, pre-holiday downstream stockpiling combined with year-end supplier inventory clearance has kept aluminum ingot inventory on a declining trend.

[SMM Analysis: Aluminum Wheel Exports Expected to Continue Declining] By export destination, the top five export destinations for aluminum wheels in November were the US, Japan, South Korea, Mexico, and Thailand. The export volumes to these five countries accounted for 27%, 24%, 10%, 8%, and 5% of the total aluminum wheel exports, respectively...