On the futures side: The aluminum alloy 2609 contract opened today at 23,305 yuan/mt, reached an intraday high of 23,335 yuan/mt, a low of 23,200 yuan/mt, and closed at 23,215 yuan/mt. Early in the session, prices shot up slightly to touch the intraday high before upward momentum weakened, and overall moved sideways around the average price line. During the session, there was a pullback to test support at lows. After falling back, prices stabilized and consolidated again. In the afternoon, bulls showed limited strength, and prices slowly drifted lower, settling in the medium-to-low range of the session at the close. Throughout the day, prices continued to consolidate at highs, with clear resistance overhead, the trading band narrowed, and open interest decreased. The near-term tug-of-war between longs and shorts intensified, and resistance above warrants close attention.
On the spot side Today, quotes in the ADC12 market were largely stable. The cost side showed no significant changes, still providing some support to prices, but the demand side remained weak, with insufficient orders weighing on the market, and some enterprises showed a slight willingness to cut prices. Under the dual effects of cost support and weak demand, near-term upward momentum for further price rises is insufficient, and the market continued to consolidate at highs. The future price direction still needs to monitor primary aluminum price trends and the recovery of downstream orders.
![Market wait-and-see sentiment remains strong, spot price continues to grind lower [SMM SiMn Weekly Review]](https://imgqn.smm.cn/usercenter/HGHao20251217171725.jpg)
