SHFE Cast Aluminum Alloy Warrants Down 1,235 mt to 67,300 mt on Feb 10

[SMM Cast Aluminum Alloy Morning Comment: ADC12 Futures Fluctuated Rangebound Overnight, Market Trading Turned More Sluggish] On Tuesday, SMM ADC12 prices held steady at 23,650 yuan/mt. As the Chinese New Year approaches, upstream and downstream enterprises in the secondary aluminum industry chain have entered a concentrated holiday period, leading to a noticeable decline in market liquidity. Actual transactions remained sluggish, with spot aluminum quotes mostly adjusting slightly around the futures.

[SMM Aluminum Morning Meeting Minutes: Geopolitical Risks and Accelerated Seasonal Inventory Buildup Keep Aluminum Prices in the Doldrums] In summary, amid the combined effects of supply growth, seasonal demand pullback, and accelerated inventory buildup, aluminum prices are generally under pressure. It is expected that prices will remain in the doldrums in the short term, with limited room for a rebound.

[SMM Secondary Aluminum Alloy Daily Review] Futures side, the most-traded secondary aluminum alloy 2604 contract opened at 2,222 yuan/mt, briefly rose above 22,300 yuan/mt after opening but lacked upward momentum to hold above that level. The price then dropped quickly during the session, hitting a low of 21,995 yuan/mt, with intraday fluctuations noticeably widening. It finally closed at 22,120 yuan/mt, down 105 yuan/mt or 0.47% from the previous close, with bears mainly increasing their positions. Spot market side, SMM ADC12 price held steady at 23,650 yuan/mt. As the Chinese New Year approaches, upstream and downstream enterprises in the secondary aluminum industry chain have entered a concentrated holiday period, leading to significantly reduced market liquidity and persistently sluggi