【SMM Aluminum Spot Market Mid-day Review: Weakening Production in Down

Published: Jan 30, 2024 13:05

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【SMM Aluminum Spot Market Mid-day Review: Weakening Production in Downstream Processing Enterprises, Decreased Spot Demand, and Increased Proportion of Ingot Casting. Short-term Spot Market Running Under Pressure with Rising Premiums】SMM Jan 30 news: Shanghai aluminum futures mainly traded lower in early trading. Today, traders in the East China region showed enthusiasm in trading, with inventory holders as the main sellers, but downstream just-in-time purchasing was the main activity, resulting in average aluminum spot transactions. According to SMM statistics, aluminum ingot inventory in Wuxi (excluding Hangzhou, Changzhou, Hai'an, etc.) was 112,000 tons, a decrease of 0.08 thousand tons compared to the previous trading day. Today, the SMM A00 aluminum price for the 2402 contract increased by about 10 yuan/ton, compared to the previous trading day's decrease······

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