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SMM Morning Comment For Aluminium Market On December 25

iconDec 25, 2023 09:49
Source:SMM
 Last Friday’s night session, the most-traded SHFE 2401 aluminum contract opened at19215yuan/mt, with the highest and lowest prices at19395 yuan/mt and 19190 yuan/mt before closing at 19375yuan/mt, up 265 yuan/mt or 1.39%.
SHANGHAI, December 25 (SMM) – Last Friday’s night session, the most-traded SHFE 2401 aluminum contract opened at19215yuan/mt, with the highest and lowest prices at19395 yuan/mt and 19190 yuan/mt before closing at 19375yuan/mt, up 265 yuan/mt or 1.39%. LME aluminum opened at $2246/mt last Friay, with its low and high at $2246/mt and $2332/mt respectively before closing at $2324/mt, up 3.5%.
Domestically, positive economic signs emerge as the central bank promotes counter-cyclical adjustments and reasonable credit growth. The National Development and Reform Commission plans new reserve strategies. Internationally, stability remains despite the Red Sea crisis adding uncertainty. Aluminum supply is stable in China, but northern winter weather pressures transport, requiring focus on domestic aluminium deliveries. Demand may drop as the off-season nears and year-end fund withdrawals by businesses reduce restocking interest, likely slowing the decrease in aluminium inventories, which should remain low, supporting prices.
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