SMM Aluminum Spot: Ample Supply Dents Market Rebound Amid High Prices, Average Transactions Prevalent Ahead of Long-Term Order Settlement

Published: Aug 26, 2024 13:19

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[SMM Aluminum Spot Afternoon Commentary: As the Settlement Day for Long-term Aluminum Orders Approaches, Market Spot Circulation Remains Ample, with Generally Average Spot Transactions] SMM News on August 26:

In today's morning session, Shanghai aluminum prices consolidated at a high level, but domestic aluminum social inventories increased slightly, with high prices inhibiting the volume of inventory withdrawal, thereby suppressing any rebound in the market. In the East China spot market, one-month ticket quotes remained firm, while next-month ticket transactions were dominated by discounts. Downstream buyers showed strong wait-and-see sentiment, and received goods in generally average volumes. Today, the SMM A00 aluminum price was discounted by 90 yuan/ton against the 2409 contract...

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