SMM Aluminum Spot Midday Review: Futures Decline, Inventory Shifts, Downstream Demand Slows

[SMM Aluminum Spot Midday Review: Futures Market Retracts, Suppliers Stand Firm on Quotes, Downstream Restocks Over the Weekend]

According to the latest inventory data from SMM, as of this Thursday, SMM reported domestic aluminum ingot social inventory at 547,000 mt, a decrease of 6,000 mt compared to last Thursday. The Wuxi region saw a significant destocking, with inventory decreasing by 7,000 mt to around 169,000 mt compared to last Thursday. In the Gongyi region, some rail shipments arrived over the weekend, increasing inventory by approximately 9,000 mt compared to last Thursday. Outflows from warehouses indicated that downstream demand weakened compared to last week, coupled with some inventory arrivals from Xinjiang, leading to a slowdown in destocking. It is expected that this week, the SMM A00 spot aluminum premium will mainly be on a small premium or parity.