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Approaching the end of March, domestic aluminum ingot inventory plummeted by 25,000 mt mid-week, nearing the 800,000 mt mark. According to SMM statistics, on March 27, the inventory of aluminum ingots in major domestic consumption areas was 802,000 mt, with 676,000 mt being tradable inventory, a decrease of 25,000 mt from Monday and 32,000 mt WoW from last Thursday. This phenomenon was mainly attributed to the steady increase in outflows from warehouses, with outflows from major consumption areas reaching 128,400 mt over the past week, up 1,300 mt WoW, and weekly outflows maintaining around 130,000 mt since March.
Mar 26, 2025 17:20
In March 2025, lead prices rose significantly due to improved supply-demand dynamics and macroeconomic factors. Early-month concerns over US tariffs and CPI data eased, while China’s pro-consumption policies and declining inventories supported prices. Shanghai lead prices hovered around 17,250 yuan/ton. High raw material costs pressured battery producers, and cautious dealer purchasing ahead of the off-season limited upside. By late March, LME inventory increases weighed on prices. For April, supply-side constraints and high scrap battery costs are expected to keep lead prices volatile.