SHFE Aluminum Sees Slight Correction as Spot Market Trading Continues to Recover [SMM Spot Aluminum Midday Review]

게시됨: Feb 12, 2025 13:06

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[SMM Spot Aluminum Midday Review: SHFE Aluminum Sees Slight Correction, Spot Market Trading Continues to Recover]

SMM, February 12 - This morning, the center of SHFE aluminum front-month contract slightly shifted downward. Market trading activity continued to recover, and transactions improved slightly after the price correction. Specifically, trading in east China improved, and spot discounts narrowed. Today, SMM A00 aluminum ingot spot discounts against SHFE 2502 contract stood at 30 yuan/mt, narrowing by 10 yuan/mt from the previous trading day. SMM A00 aluminum ingot prices were recorded at 20,540 yuan/mt, down by 50 yuan/mt from the previous trading day.

In the central China market, overall market activity still awaited recovery, with spot discounts narrowing. Actual transactions in the market were mainly at SMM central China -10 yuan/mt. Today, the Henan-Shanghai price spread was around a discount of 180 yuan/mt. SMM central China A00 aluminum ingot prices against SHFE 2502 contract were recorded at 20,390 yuan/mt, down by 50 yuan/mt from the previous trading day.

Inventory side, according to SMM data on aluminum ingot social inventory in three regions, as of February 12, inventory buildup reached 8,000 mt to a total of 609,100 mt. After the Lantern Festival, production and operations gradually resumed, driving demand growth. However, aluminum prices remained at a relatively high level, and spot premiums/discounts are expected to remain stable. Moving forward, attention should be paid to the progress of downstream aluminum production resumption and disruptions on the aluminum supply side.

Data source: SMM
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