Aluminum Inventories Rise Again, Bulls Retreat Amid Price Slump & Market Uncertainty - SMM Commentary

Publicado: Aug 29, 2024 13:44
[SMM Aluminum Spot Afternoon Commentary: Aluminum Social Inventories Accumulate Again, Bulls Exit, Aluminum Futures and Spot Prices Plunge Today] SMM August 29 News: This week, domestic aluminum social inventories were suppressed by high prices, coupled with trade blowups and unclear ownership of goods in multiple regions such as South China, leading to cautious downstream receipt of goods and reduced market activity. As a result, aluminum social inventories returned to an accumulation state. According to SMM data, domestic aluminum social inventories increased by 8,000 tonnes to 811,000 tonnes on Thursday this week compared to the previous Thursday, with Wuxi seeing a decrease of 5,000 tonnes and Gongyi seeing a decrease of 3,000 tonnes, but the inventory increase in Foshan was more pronounced...

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[SMM Aluminum Spot Afternoon Commentary: Aluminum Social Inventories A - Shanghai Metals Market (SMM)