Primary aluminium inventories fell 32,000 mt on week

[China's Aluminum Inventory Pullback, Multiple Factors in Play, Aluminum Prices Drift Higher] Overall, recently the macro front has improved, the US Fed's near-term hold on rate hikes has eased the marginal constraint on the non-ferrous metals sector, and China's proportion of liquid aluminum continues to rise while aluminum inventory destocking has resumed, together underpinning aluminum prices. However, the continuous rollout of long-term aluminum capacity outside China, weak traditional end-use demand in China during the off-season, and the recent easing of geopolitical tensions in the Middle East are putting some upward pressure on aluminum prices. It is expected that aluminum prices will maintain a trend of consolidating on a strong note.

[SMM Snapshot] Dados da SHFE mostram que, em 5 de agosto, o total de warrants registrados para liga de alumínio fundido era de 17.374 toneladas, uma queda de 59 toneladas em relação ao dia de negociação anterior. Desse total, Xangai registrou 1.506 toneladas, inalterado; Guangdong registrou 1.342 toneladas, queda de 88 toneladas; Jiangsu registrou 3.806 toneladas, inalterado; Zhejiang registrou 6.961 toneladas, aumento de 29 toneladas; Chongqing registrou 2.974 toneladas, inalterado; e Sichuan registrou 785 toneladas, inalterado.