Interpretation of Aluminum Inventory Performance in the First Week After the Holiday: Is the Inventory Buildup Slightly High? When Will It Ease? [SMM Analysis]
As the Lantern Festival approaches, the joy of the New Year fills our hearts. Most traders in the aluminum industry have resumed work this week, and downstream enterprises are expected to enter a peak period of resumption of work and production. Let us take a look at the aluminum inventory performance in the first week after the Chinese New Year: According to SMM statistics, as of February 10, 2025, the total domestic aluminum inventory (aluminum ingot + aluminum billet) tracked by SMM reached 1.0235 million mt, surpassing the 1 million mt mark. This represents an increase of 95,000 mt (10.2%) compared to the first day after the holiday (February 5) and an increase of 308,000 mt compared to the pre-holiday level (January 27). Observing the YoY data for inventory buildup in the first week after the Chinese New Year, the increase exceeded last year's 82,000 mt and 9.1% growth. The inventory buildup in the first week after the holiday continued the slightly higher trend observed during the Chinese New Year holiday period...