Export Window Closes, Alumina Prices Under Pressure [SMM Alumina Morning Comment]

The July off-season, compounded by high temperatures, kept operating rates at downstream processing enterprises in the central China market low, with buying sentiment remaining persistently sluggish. However, wide premiums prompted traders’ hedging sentiment to push up discounts and capture price spreads, resulting in relatively strong buying interest among them. Meanwhile, suppliers’ pronounced willingness to hold prices firm and sell drove the market discounts higher. Ultimately, the actual transaction price range in the central China market centered around a discount of 130-170 yuan/mt against the SHFE aluminum August contract.

[미국 연준 금리 인상 기대 지속, 지정학적 프리미엄이 알루미늄 가격의 바닥 탄력성 뒷받침] 종합 전망에 따르면, 알루미늄 가격은 단기적으로 강세 흐름 속에 횡보하며 저항에 부딪힐 것으로 예상됩니다.