Shanghai Aluminum Maintains High Levels, Limited Spot Arrivals Underpin Premiums: SMM Afternoon Commentary

【SMM Aluminum Spot Afternoon Commentary: Shanghai Aluminum Consolidates at High Levels, Limited Arrival of Aluminum Spot Continues to Support Spot Premium】

SMM Report on October 23

According to SMM's latest inventory data, the arrival of aluminum ingots in China's major consumption areas remained relatively low on Monday of this week. The country's aluminum social inventory maintained a downward trend, with only a small amount of truck cargo replenishment in Wuxi. As of Monday, the aluminum ingot inventory in Wuxi decreased by 12,000 tonnes to 211,000 tonnes compared to last Thursday. As of Monday, the total social inventory of aluminum ingots in China was approximately 638,000 tonnes, a decrease of...