【SMM Aluminum Spot Afternoon Commentary: Aluminum Prices Climb Again, More Sellers than Buyers, Basis Weakens】
SMM September 13th:
In today's morning session, Shanghai aluminum extended its overnight gains, with the main contract fluctuating at a high level above 19,700 yuan/ton. Holders in the East China spot market were eager to sell, while downstream buyers were hesitant due to high prices but had rigid demand for purchases. However, with the Mid-Autumn Festival holiday approaching, the domestic market will face a four-day closure, prompting some downstream players to replenish inventories before the holiday, mainly through price negotiation. Market transactions were mainly at discounts to the online prices, and today's SMM A00 aluminum price maintained a premium of 10 yuan/ton against the 2409 contract....
