[SMM Aluminum Price Weekly Review: Geopolitical Disruptions Dominate, and the Pattern of Elevated Aluminum Prices Continues]

[SMM Aluminum Price Weekly Review: Geopolitical Disruptions Dominate, Aluminum Prices Remain Elevated]

[SMM Aluminum Price Weekly Review: Middle East Geopolitical Conflict Drove a Sharp Surge in Aluminum Prices; In the Short Term, Aluminum Prices Are Expected to Hold Up Well]

[SMM Aluminum Price Weekly Review: Global Macro Presents a Weak Balance and High Fluctuations Pattern, Continuous Inventory Pressure Limits Aluminum Price Upside Room]

[SMM Weekly Review of Aluminum Prices: Strong Support and Pressure Points Coexist, SHFE Aluminum to Maintain Volatile Consolidation in the Short Term]

[SMM Weekly Aluminum Price Review: Bullish and bearish factors intertwine, direction remains unclear; SHFE aluminum to maintain rangebound fluctuations in the short term]

[SMM Weekly Aluminum Price Review: Macro Sentiment Improves, Coupled with Pre-Holiday Destocking, but Imbalance Between Bulls and Bears Still Exists]

SMM Aluminum Price Weekly Review: Improved Macro Sentiment and Pre-Holiday Destocking Lead to Generally Stable SHFE Aluminum with Slight Rise

On April 21, the SMM A00 aluminum price was reported at 19,910 yuan/mt, up 80 yuan/mt from the previous trading day, with a premium of 5-60 yuan/mt against the May contract, up 10 yuan/mt from the previous trading day. On April 21, the SMM A00 aluminum (Foshan) price was reported at 19,870 yuan/mt, up 60 yuan/mt, with a premium of 20 yuan/mt against the current month, narrowing by 15 yuan/mt. (Unit: yuan/mt) According to SMM statistics, on April 21, the inventory of aluminum billets in mainstream domestic consumption areas was 196,700 mt, down 12,500 mt WoW from last Thursday. On Monday, SHFE aluminum strongly broke through the 20,000 yuan/mt mark, with processing fees slightly under pressure. However, the market sentiment was boosted by another surge during the session, and processing fees rose slightly compared to yesterday as demand recovered, with overall transactions being moderate. Today, the Foshan aluminum billet market was quoted at 320/370 yuan/mt, up 20 yuan/mt; the Wuxi market processing fees were quoted at 370/320 yuan/mt, up 20 yuan/mt; and the Nanchang region processing fees were quoted at 370/320 yuan/mt, up 10 yuan/mt. (Unit: yuan/mt)

【SMM Aluminum Price Weekly Review: Tariff Impact Remains, Domestic Fundamentals Support Aluminum Prices】Overall, macro-wise, the escalation of the tariff war has led to bearish sentiment among investors. Fundamentally, the reduction in domestic aluminum ingot inventory has provided support for both aluminum futures and spot premiums. In the short term, the operating rate of the aluminum processing sector in April remains high, but subsequent orders are expected to decline. Domestic aluminum prices are anticipated to fluctuate, with the most-traded SHFE aluminum contract expected to trade around 19,600-19,900 yuan/mt next week, while LME aluminum is projected to trade around $2,370-2,400/mt.