SMM News on April 18th:

On April 18, 2024, SMM statistics showed that the total social inventory of electrolytic aluminum ingots was 844,000 tons, with domestic circulating electrolytic aluminum inventories at 718,000 tons. This is a decrease of 10,000 tons from last Thursday and 15,000 tons from this Monday, reaching a near seven-year low for the same period. Compared with the same period last year, inventories have dropped by 91,000 tons. According to SMM analysis, the main reason for the reduction in domestic aluminum ingots is the continued closure of the import window, with recent Shanghai aluminum spot imports losing more than 2,000 yuan/ton, thus weakening the impact of imported goods on the domestic market...