Aluminum Alloy Prices Edge Down, Spot Market Cautious Amid Futures Pullback
[SMM Aluminum Alloy Daily Commentary] On the futures side, the cast aluminum alloy 2608 contract opened at 22,935 yuan/mt today, surged to a high of 23,175 yuan/mt, dipped to a low of 22,780 yuan/mt, and closed at 22,985 yuan/mt, edging down 0.52% intraday. On the spot side, the overall atmosphere for price adjustments in the secondary aluminum alloy market was cautious today. The SMM ADC12 price remained flat at 23,900 yuan/mt. Affected by the pullback in aluminum prices and futures, some enterprises chose to follow the market and lowered prices by 100 yuan/mt. However, most enterprises, considering that the cost side of aluminum scrap still provided certain support and that the adjustment range of raw material prices was relatively limited, maintained a wait-and-see stance.