SHFE Aluminum Edged Down in Night Session, Erasing Daytime Gains [SMM Cast Aluminum Alloy Morning Comment]
[SMM Cast Aluminum Alloy Morning Comment: SHFE Aluminum Edged Down in Night Session, Erasing Daytime Gains] Spot market-wise, A00 aluminum price rebounded sharply by 470 yuan/mt from the previous trading day to 23,760 yuan/mt, while SMM ADC12 price rose by 150 yuan/mt to 23,800 yuan/mt. Futures showed a notable rebound, but secondary aluminum alloy plants' offers diverged: some enterprises raised their offers by 200 yuan/mt following the market trend, basically recovering the previous day's losses; others, constrained by weak orders, kept their offers stable for now. With aluminum prices rebounding, market procurement sentiment improved slightly compared to earlier, but downstream buyers still mainly made just-in-time procurement. On the supply side, approaching the Chinese New Year holiday, affected by reduced orders and environmental protection-related controls, some secondary aluminum alloy plants have arranged early holidays, with staggered production halts expected to start from the 5th, and the overall holiday duration is longer than the same period in previous years. Overall, downstream demand continues to shrink, and fundamental support for prices is marginally weakening; secondary aluminum alloy prices are expected to hover at highs in the short term.