SMM Aluminum Spot Midday Review: Shanghai Aluminum Main Contract Shakes Downward in the Morning, Today's East China Spot Transactions Relatively Weak with Slight Narrowing of Premiums.

SMM January 23rd news:

This morning, the main contract of Shanghai aluminum shook downward. Today, in the East China region, the focus was on merchants' shipments, with relatively weak transactions and weakened premiums for spot aluminum. According to SMM statistics, the inventory of aluminum ingots in Wuxi (excluding Hangzhou, Changzhou, Hai'an, etc.) today is 110,400 tons, an increase of 14,000 tons from the previous trading day. The imported aluminum spot in Shanghai is running at a high profit, and there may be some imported goods from the bonded zone entering the domestic market. Today, the SMM A00 aluminum price for the 2402 contract is about 60 yuan/ton higher than the previous trading day...