SHFE aluminum inventory drops for six consecutive weeks, hitting a new low in over a year

Data released by the London Metal Exchange (LME) showed that LME aluminum inventory continued its downward trend last week, with the latest inventory level at 403,550 mt, hitting a new low in over two years.

Data released by the Shanghai Futures Exchange (SHFE) indicated that SHFE aluminum inventory continued to decline in the week ending May 9, marking its sixth consecutive week of decline. Weekly inventory decreased by 3.52% to 169,665 mt, reaching a new low in over a year.

Note: Generally, a continuous decline in inventory at domestic and overseas exchanges will support futures prices, while the opposite will have a bearish impact on futures prices.

Comparison of LME and SHFE aluminum inventory since 2023

The following are the aluminum inventory data for the LME and SHFE since April 2025: (Unit: mt)