Downward Trend of Aluminium Ingot Inventory to Continue in April

As of April 10, the inventory of aluminium ingots dropped to 1 million mt, a decrease of more than 200,000 mt compared with early March. Downstream production resumption strengthened procurement. In addition, the proportion of aluminium liquid at aluminium plants increased to a new high of 71% in March. This increased output of aluminium billet and intermediate aluminium products while reducing the amount of ingots.

It is expected that the proportion of aluminium liquid will remain high, and the supply of aluminium ingots is unlikely to grow sharply. At present, downstream orders and production are steadily picking up. It is expected that the inventory of aluminium ingots will still be on a downward trend in April. According to the SMM machine learning model, the inventory will fall by around 800,000 mt.