SHFE Aluminum Consolidates High, Spot Prices Extend Gains for Fifth Day on Robust Demand

【SMM Aluminum Spot Afternoon Commentary: SHFE Aluminum Consolidates at High Levels, Aluminum Spot Prices Rise for Five Consecutive Days】SMM, August 21:

SHFE aluminum prices experienced an initial decline followed by a rally in today's early trading session, overall still displaying a relatively strong volatile trend. The East China spot market saw a predominance of shipments, with downstream buyers stocking up for rigid demand. Overall market transactions were average, but given the optimistic outlook for aluminum prices in the future, holders did not engage in aggressive selling at low prices, and the basis generally remained stable. Today, SMM A00 aluminum prices maintained a discount of 80 yuan/ton against the SHFE 2409 contract...