Central China Market Rebounds, Trading Firms Stockpile, Prices Strengthen Against SHFE Aluminum Contracts
Today, the trading atmosphere in the central China market continued to rebound compared to the previous two days. Coinciding with Friday, stockpiling demand from downstream processing enterprises was somewhat released, and the stockpiling sentiment among trading firms engaging in both spot and futures market remained strong, providing strong support to market prices. Moreover, suppliers showed a notable willingness to hold prices firm and hold back from selling. As a result, the actual transaction price range in the central China market was at a premium of -110 to -140 yuan/mt against the SHFE aluminum August contract, with a trend of continuously moving higher.