SMM

According to SMM statistics, the social inventory of domestic aluminium billet stood at 82,000 mt on January 4, an increase of 17,900 mt WoW and 4,600 mt compared with January 1, and also up 2,300 mt YoY. The inventory rose rapidly after the holiday. In terms of outflows, a total of 27,900 mt of aluminium billet were withdrawn from social warehouses from December 26 to January 1, down 6,900 mt WoW. The outflows have declined for four consecutive weeks. SMM believes that the concentrated arrival of goods during New Year's Day holiday, the gradual weakening of downstream operating rates near the Spring Festival, and the high aluminium prices suppressing downstream purchasing willingness are the three major reasons for the inventory accumulation of domestic aluminium ingots and aluminium billet after the New Year's Day holiday.