SMM July 21 news:
The daytime session saw an expanded decline, while spot aluminum in South China stabilized and improved. Destocking has recently slowed down, but actual arrivals remained tight. As absolute prices fell, suppliers sold slightly more but generally intended to hold prices firm, with almost no low-price selling, especially among larger-scale ones. Mainstream quotations were at a premium of 0 to +10 yuan/mt, and circulation tended to tighten. Demand side, downstream users steadily increased replenishment at low prices, solidifying the demand base, while traders' enthusiasm for entering the market to purchase also improved, driving demand to recover further. The supply-demand pattern was tight, and overall transactions gradually improved. Spot transaction prices were concentrated at a premium of -10 yuan/mt to 30 yuan/mt against the SHFE aluminum 2608 contract.
