The amount of aluminum billets picked up from warehouses increased before Labour Day holiday
Aluminum prices remained above 20,000 yuan/mt. Downstream buyers presented little buying interest.
Aluminum ingot destocking accelerated before Labour Day holiday
On Apr 25, 2024, SMM data showed that the social inventory of aluminum ingots in China’s eight major markets was 807,000 mt, (the amount for sale stood at 681,000 mt), down 37,000 mt WoW, down 24,000 mt compared with Apr 22 and 77,000 mt YoY, remaining at the lowest compared to the same period of past seven years.
Stainless steel inventory fell slowly amid sluggish supply and demand [SMM analysis]
As of April 25, the social inventory of stainless steel totalled 914,700 mt, down 0.94% WoW.
Data: SHFE, DCE market movement (Apr 26)
The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Apr 26, 2024
Polysilicon prices extend declines, inventory pressure is mounting
The mainstream traded prices of P-type dense polysilicon were 40-46 yuan/kg this week, and N-type polysilicon at 45-53 yuan/kg.