Last Friday night, the most-traded SHFE aluminum 2412 contract opened at 20,875 yuan/mt, reaching a high of 21,020 yuan/mt and a low of 20,870 yuan/mt, and closed at 20,980 yuan/mt, up 140 yuan/mt or 0.67% from the previous close. Trading volume was 76,100 lots, and open interest was 212,000 lots, with a daily decrease of 3,100 lots. On Friday, LME aluminum opened at $2,649/mt, reaching a high of $2,685.5/mt and a low of $2,593.5/mt, and closed at $2,670/mt, up $30.5/mt or 1.16%.
Summary: Macro front, domestic policies continue to boost the economy, global market liquidity is ample, but the potential ceasefire in the Middle East introduces new variables to macro sentiment. Fundamentals side, the bauxite supply crisis has driven alumina prices to high levels, significantly increasing costs in the aluminum industry. Overall, current aluminum ingot spot inventory continues destocking, while the cost side supports aluminum prices to fluctuate at relatively high levels.
![Limited cost fluctuations and mild demand recovery keep ADC12 prices mostly stable [ADC12 Price Daily Review]](https://imgqn.smm.cn/usercenter/mLwgx20251217171723.jpeg)
![Los precios del aluminio retroceden ligeramente, el tono débil se mantiene sin cambios [Reseña diaria del aluminio al contado en el sur de China de SMM]](https://imgqn.smm.cn/usercenter/ECUsL20251217171652.jpg)
