SMM Aluminum Morning Meeting: Inventory Destocking Amid Weak Demand Drives Aluminum Prices Downward

[SMM Aluminum Morning Meeting Summary: Domestic Aluminum Ingot Inventory Shows Off-Season Destocking; Weak Supply and Demand Keep SHFE Aluminum Fluctuating Downward]

According to SMM statistics, as of December 26, China's aluminum ingot social inventory stood at 490,000 mt, with a destocking of 38,000 mt WoW; aluminum billet social inventory reached 103,000 mt, with an inventory buildup of 13,900 mt WoW. Overall, on the macro front, the US Fed's interest rate cut pace remains unclear. Fundamentals side, although supply-side pressure has slightly eased, weak demand during the off-season and the growing risk of inventory buildup continue. In the short term, aluminum prices are expected to fluctuate downward.