[SMM Spot Aluminium]

In east China, persistently high absolute prices dampened downstream purchasing momentum, but the high prices at the market opening stimulated holders to actively sell, increasing the supply of circulating goods in the market and widening the discount range for transactions. Actual transactions were mainly conducted at a discount of 20–10 yuan/mt to the SMM average price. After futures prices declined, the enthusiasm for selling did not subside, and actual transactions failed to shift to a premium, with no significant rebound in downstream purchasing enthusiasm.

In central China, before the market opening, prices were mainly concentrated at parity with the central China price. However, high aluminum prices led to sluggish market trading, with sellers adopting a wait-and-see approach. After the market opened, buying sentiment saw a slight rebound, and traders engaged in hedging-related stockpiling. However, transactions in the downstream market remained weak, as enterprises focused on rigid demand and reduced raw material stockpiling. Buyers tended to seek large discounts for purchases, but transactions were limited, and the final actual transaction prices were mainly concentrated at a discount of 10 yuan/mt to the central China price.