ADC12 Spot Steady on Cost Support, Warrant Destocking and Price Spread Between Chinese and Overseas Markets Continue to Narrow [SMM Cast Aluminum Alloy Morning Comment]
[SMM Cast Aluminum Alloy Morning Comment: ADC12 Spot Stable on Cost Support; Warrant Destocking and Continued Narrowing of Price Spread Between Chinese and Overseas Markets]
Overnight, the aluminum alloy 2609 contract opened at 22,870 yuan/mt, hit a session high of 22,900 yuan/mt, fell to a session low of 22,700 yuan/mt, and closed at 22,835 yuan/mt, edging down 55 yuan/mt from the previous settlement of 22,820 yuan/mt, a decline of 0.24%.