News Summary Core Viewpoint - The aluminum alloy market is experiencing a slight decrease in inventory levels, with stable prices and cautious market activity observed in recent transactions. Group 1: Market Inventory and Prices - As of October 24, the total social inventory of recycled aluminum alloy ingots in Foshan, Ningbo, and Wuxi is 48,612 tons, a decrease of 21 tons from the previous trading day and a reduction of 411 tons from the previous week [1] - Last week, the operating rate of primary aluminum alloy increased by 1.03%, while the operating rate of recycled aluminum alloy remained unchanged [1] - The price of ADC12 in major domestic regions remained stable week-on-week, with cautious market transactions and similar import prices [1] Group 2: Industry Insights - The continuous reduction of waste aluminum raw material inventory and limited import supply may restrict upstream supply due to high operating rates, providing strong support on the cost side [2] - Although social inventory is increasing, the rate of accumulation has slowed significantly, and downstream consumption is nearing the end of the peak season, with positive growth in new energy consumption but a decreasing growth rate [2] - The current spot price for ADC12 is quoted at 20,700 yuan, with tight waste aluminum supply and expectations of tax policy adjustments increasing enterprise costs [3]