Global Interest Rate Cuts Propel Aluminum Prices Above 20,000 Yuan/Ton, Spot Market Trading Remains Steady

【SMM Aluminum Spot Afternoon Commentary: Macro-Positive Stimulus Drives Today's Soaring Aluminum Prices; Trading Remains Decent in Spot Market】

SMM, September 25

As the global "interest rate cut wave" arrives, with both domestic and international macroeconomic factors resonating, LME aluminum futures experienced relatively strong fluctuations, and today's Shanghai aluminum prices surpassed the 20,000 yuan/ton mark. In the spot market of East China, overall trading remained stable. Approaching the end of the month, the circulation of tickets for the current month was tight, with suppliers focusing on stable pricing and shipments, while downstream buyers, wary of high prices yet with rigid demand, engaged in restocking. Today, the discount of the SMMA00 contract to the 10th-month future contract was 50 yuan/ton, unchanged from the previous trading day. The SMMA00 recorded a price of 20,160 yuan/ton, up 360 yuan/ton from the previous trading day.

During the second trading session, the market experienced narrow fluctuations, with downstream buyers showing moderate enthusiasm for receiving goods. Overall trading volume was average, with the mainstream transaction prices ranging from a discount of 20 yuan/ton to a premium of 20 yuan/ton against SMM A00...