LME Aluminum Halts Decline, Boosts Spot Market in Henan & Shanghai; Premium Narrows Amid Inventory Rise

Publicado: Aug 30, 2024 13:38
【SMM Aluminum Spot Afternoon Commentary: LME Aluminum Halts Decline and Rebounds, Spot Transactions Improve in Henan and Shanghai Today, Premium Narrows】SMM News on August 30: This week, domestic aluminum social inventories were suppressed by high prices, coupled with trade shockwaves and unclear cargo ownership issues in southern China and other regions, leading to cautious downstream receipt of goods and decreased market activity. As a result, aluminum social inventories reverted to an accumulation state. SMM data shows that domestic aluminum social inventories increased by 8,000 tonnes to 811,000 tonnes on Thursday of this week compared to the previous Thursday, with inventories in Wuxi declining by 5,000 tonnes and those in Gongyi by 3,000 tonnes from the previous Thursday, but the increase in inventories in Foshan was more pronounced...

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【SMM Aluminum Spot Afternoon Commentary: LME Aluminum Halts Decline an - Shanghai Metals Market (SMM)