Aluminum Ingot Inventory Declines Post-Holiday, SMM Optimistic on Price Support

Published: May 8, 2025 15:13

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According to SMM statistics, as of May 8, the inventory of aluminum ingots at major domestic consumption hubs stood at 620,000 mt, a decrease of 16,000 mt from Tuesday this week and an increase of 6,000 mt compared to the pre-holiday level (April 30). Overall, the performance of domestic aluminum ingot inventory during the Labour Day holiday was slightly better than expected, with the overall inventory buildup being manageable. The fundamental factors did not exert significant downward pressure on aluminum prices after the holiday. In just two days after the holiday, domestic aluminum ingot inventory continued to destock, indicating that domestic aluminum consumption still demonstrated strong resilience during the critical transition phase between the low and peak seasons. In the short term, aluminum prices still have significant support. For the time being, SMM remains optimistic, expecting that the domestic aluminum ingot inventory will continue to trend slightly downward and stabilize in the first half of May, operating within the range of 600,000-650,000 mt.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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