East Hope Stops Offering Alumina on Bauxite Shortage, SMM Learns

[ Rising US Treasury yields put pressure on aluminum prices, which consolidate at highs amid mixed bullish and bearish factors ] Overall, aluminum prices are expected to continue to consolidate at highs in the short term.

[SMM Aluminum Flash] Today, the combined daily inventory of secondary aluminum alloy ingots across the three major consumption hubs in China stood at 12,947 mt, down 205 mt from the previous trading day. Recently, cast aluminum alloy futures have fluctuated lower, while spot prices have remained relatively firm. The widening basis has prompted futures-spot traders to accelerate deliveries, leading to a slight decline in social inventories.

[SMM Cast Aluminum Alloy Morning Comment: Aluminum Alloy Retreats After Rapid Rise in Night Session, Closes with Small Bullish Candle at Low Levels] Overnight, the aluminum alloy 2611 contract opened at 23,210 yuan/mt, quickly shot up to 23,325 yuan/mt after the open, then bulls lost momentum after the spike and prices pulled back step by step, dipping to a low of 23,160 yuan/mt during the session before consolidating to recover. The night session closed at 23,260 yuan/mt, edging up 0.09%.