Primary aluminium inventories fell 33,000 mt on week

[SMM aluminum alloy flash] The most-traded cast aluminum alloy contract 2611 (AD2611) opened at 23,805 yuan/mt in early trading today. After briefly shooting up to an intraday high of 23,830 yuan/mt right after the open, it quickly pulled back and then consolidated to recover. It closed at 23,745 yuan/mt at midday, up 115 yuan, or 0.49%, from yesterday's settlement of 23,630. Trading activity gradually thinned after heavy volume in early trading. Open interest rose from 18,804 lots to 18,849 lots, a modest increase of 45 lots, with bulls following cautiously. The intraday average price was 23,767 yuan, and the midday close was about 22 yuan below the average price line. Bears held a slight edge, while bulls and bears were broadly balanced overall.

[ADC12 Price Daily Review: Domestic Prices Firm While Overseas Prices Stable, Aluminum Alloy Import Window Nears Opening] The industry remains in a pattern primarily driven by costs, supplemented by mild demand recovery. Enterprises' willingness to hold prices firm has increased somewhat, but the room for further price rises still depends on the actual realization of subsequent peak-season demand.

SHFE aluminum continued to rally during the night session, with a slight correction in early trading but still maintaining an upward trend. In the central China market, downstream processing enterprises showed limited buying sentiment. Although major suppliers held back from selling, the upward momentum in market premiums was limited, and trading volume remained low. Ultimately, the actual transaction price range in the central China market was around a discount of 140-170 yuan/mt against the 09 contract.