SMM Analysis: Pre-Holiday Demand Slump Causes LME Aluminum Price Fluctuations During Chinese New Year

[SMM Analysis: Review of LME Aluminum Trends During the Chinese New Year Holiday: Pre-Holiday Demand Weakens, LME Aluminum Consolidates]

Before the Chinese New Year holiday, due to weakening end-use consumption, the price center of SHFE aluminum shifted downward. On January 27, the most-traded SHFE aluminum contract (AL2503) closed at 20,240 yuan/mt, with a daily decline of 0.78%. During the Chinese New Year holiday (January 28 to February 4), the SHFE aluminum market was closed, while LME aluminum prices overall maintained a fluctuating trend, with the highest point reaching $2,634/mt and the lowest at $2,553/mt. On February 4, it closed at $2,637.5/mt, with a range increase of 1.11%.