Primary aluminium ingot inventories in China expanded 10,000 mt on week

Over the next 1-2 weeks, China's petroleum coke market is expected to maintain a structurally divergent trend: low-sulphur petroleum coke will remain largely stable, while mid and high-sulphur petroleum coke will stay relatively steady on the back of rigid demand from prebaked anode, though the support underneath has weakened due to operating uncertainty caused by environmental protection-related controls, with greater price fluctuation elasticity than in the previous period.

[SMM Analysis: Aluminum Billet Processing Fees See Limited Recovery in October; Regional Divergence Remains the Main Theme in November amid Slowing Destocking] According to SMM statistics, as of October 29, aluminum billet inventory in major consuming regions in China stood at 138,000 mt, down 11,500 mt from 149,500 mt at end-September and down 49,500 mt from the post-holiday peak (187,500 mt on October 8). This marked the third consecutive weekly pullback after the holiday, with current inventory basically flat compared with the same period in 2025, significantly easing the earlier pressure of being at "the highest level for the same period in the past four years"...

According to SMM data, as of October 29, aluminum billet inventories across major domestic consumption hubs stood at 138,000 mt, down 11,500 mt from 149,500 mt at end-September and down 49,500 mt from the post-holiday peak of 187,500 mt recorded on October 8...