SMM Aluminum Spot Market Midday: Weak Transactions Amid Inventory Rise

Опубликовано: Nov 25, 2024 13:10
[SMM Aluminum Spot Market Midday Review: Spot Transactions in Henan and Shanghai Weakened Due to Concentrated Arrivals Over the Weekend] According to the latest inventory data from SMM, as of this Monday, the social inventory of domestic aluminum ingots was 551,000 mt, up 12,000 mt compared to last Thursday. Inventory buildup in Wuxi was significant, up 11,000 mt to around 169,000 mt compared to last Thursday. In Gongyi, some rail shipments arrived over the weekend, increasing by approximately 7,000 mt compared to last Thursday. From the outflows from warehouses data, aluminum prices fluctuated last week, and downstream sectors rushed to meet deadlines before tax incentives were canceled, leading to a WoW increase in domestic aluminum ingot outflows from warehouses. Currently, shipments from Xinjiang remain poor, with intermittent arrivals in Wuxi and Gongyi. It is expected that the SMMA00 spot market will maintain a premium trend next week.

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[SMM Aluminum Spot Market Midday Review: Spot Transactions in Henan an - Shanghai Metals Market (SMM)