Aluminum Prices Surge Amid Weak Spot Market Activity, Inventory Draws Boost Demand Outlook

【SMM Aluminum Spot Afternoon Commentary: Aluminum Prices Rally Rapidly, Trading Activity in Today's Spot Market Turns Weak】

SMM Report on September 12:

According to SMM inventory data, domestic aluminum spot inventory has seen significant drawdowns this week. As of Thursday, domestic aluminum ingot spot inventory decreased by 46,000 tonnes compared to the previous Thursday and by 20,000 tonnes since Monday, reaching 748,000 tonnes. Notably, Wuxi witnessed the most significant drawdown, with a 30,000-tonne decrease in inventory from the previous Thursday. The robust drawdown in domestic aluminum social inventory is primarily attributed to the increased demand for downstream stockpiling ahead of the holiday season. Spot trading this week has improved compared to earlier periods...