[SMM Aluminum Spot Afternoon Commentary: Aluminum Prices Rise Again, Rigid Downstream Demand Spurs Narrowing of Spot Discount in Henan Market]
SMM, September 27
During the week, domestic aluminum spot inventories have seen significant reductions. With a relatively long holiday period, downstream stockpiling demand has been robust, driving the weekly spot basis upwards. However, based on current regional arrivals, the quantities of aluminum ingots delivered to Wuxi and Gongyi are relatively low, resulting in tight market liquidity. In contrast, the supply in South China is ample, leading to a widening price difference between Guangdong and Shanghai. It is expected that some holders of aluminum or traders may arrange for cross-regional arbitrage...
