SMM, September 21:
The SHFE aluminum 2610 contract showed no significant change from the previous trading day, and spot transactions were lackluster. Ahead of the holiday, most suppliers expressed reluctance to hold excessive inventory, and spot transaction prices shifted lower. SMM A00 aluminum spot premiums were traded between parity and a premium of 20 yuan/mt.
SHFE aluminum consolidated in a narrow range today, while trading sentiment in the central China market remained sluggish. At the start of the week, downstream processing enterprises showed limited willingness to restock, having already made substantial purchases at lower prices, which continued to push market quotes downward. With the holiday approaching, suppliers preferred to reduce inventory and showed little inclination to hold prices firm, with only a few large players maintaining high premiums. Ultimately, actual transaction prices in the central China market were centered around a discount of 70-100 yuan/mt against the SHFE aluminum October contract.
SMM daily inventory data for aluminum ingots across the three regions increased by 1,000 mt, with only Gongyi showing destocking.
