The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Sep 30, 2024

Last Friday, LME copper opened at $10,012.5/mt.

Last Friday night, the most-traded SHFE aluminum 2411 contract opened at 20,355 yuan/mt, with a high of 20,530 yuan/mt, a low of 20,330 yuan/mt, and closed at 20,480 yuan/mt, up 125 yuan/mt, an increase of 0.61%.

On September 20, to thoroughly implement the new development concept and promote high-quality development of the manufacturing industry, the General Office of the Ministry of Industry and Information Technology officially issued the "Guidelines for Equipment Renewal and Technological Transformation in Key Industrial Sectors" (hereinafter referred to as the "Guidelines").

In the first half of September, domestic aluminum ingot inventory successively broke through the 800,000 mt and 750,000 mt marks, slightly exceeding our previous expectations.

This week, favourable macro factors were released intensively.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Sep 27, 2024

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LME copper opened at $9,948.5/mt overnight, initially fluctuating rangebound before declining to a low of $9,945/mt.

Overnight, the most-traded SHFE aluminum 2411 contract opened at 20,295 yuan/mt, reaching a high of 20,345 yuan/mt and a low of 20,225 yuan/mt, closing at 20,315 yuan/mt, up 165 yuan/mt, a rise of 0.81%.