SMM April 15 News:
[SMM] On April 15, SMM A00 aluminum (Foshan) was quoted at 24,640, up 10, at a discount of 165 to the current-month contract and a discount of 250 to the next-month contract, widening by 5 (unit: yuan/mt).
SHFE aluminum 04 contract remained stable today. The spot market in South China continued to show weak performance. Buyer purchasing sentiment remained sluggish overall today, with downstream participants still cautious about high prices and no increase in purchasing enthusiasm. Although destocking signs emerged again today, due to the continued fermentation of the impact of reduced-tax invoices, traders were cautious and took fewer orders with demand falling to a trough, and suppliers were also forced to lower prices to facilitate shipments. Mainstream transaction prices in the market today were concentrated in the range of SHFE aluminum 04 contract premium -185 yuan/mt to SHFE aluminum 04 contract premium -145 yuan/mt.
