Weekend Sees Improved Overall Trading of Aluminum Ingots [SMM Spot Aluminum Midday Review]

Published: Feb 28, 2025 14:33

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[SMM Spot Aluminum Midday Review: Weekend Trading Boosts Overall Aluminum Ingot Transactions] Inventory side, according to SMM's data on aluminum ingot social inventory in three regions, it remained stable at 731,200 mt as of February 28. Inventory saw a slight rebound, while spot premiums/discounts lacked upward momentum, and it is expected to fluctuate relatively stable with a weak trend next week.

SMM, February 28

—In the early trading session, SHFE aluminum front-month contract fluctuated. As it was the weekend, downstream restocking combined with active trading by traders improved the activity in the spot market today. Specifically, in east China, trading was active, and spot discounts remained unchanged from the previous trading day. Today, SMM A00 aluminum ingot recorded a discount of 30 yuan/mt against the SHFE 2503 contract, with SMM A00 aluminum ingot prices at 20,600 yuan/mt, up 50 yuan/mt from the previous trading day.

In the central China market, being the weekend, trading activity continued to improve during the day. Coupled with some inventory being hedged, the circulation rate was relatively low, and traders took the opportunity to stand firm on quotes. Today, the Henan-Shanghai price spread recorded a discount of around 100 yuan/mt, with SMM central China A00 aluminum ingot prices at 20,500 yuan/mt, up 60 yuan/mt from the previous trading day.

Regarding inventory, according to SMM data on aluminum ingot social inventory in three regions, as of February 28, it remained stable at 731,200 mt. Inventory saw a slight rebound, and spot premiums and discounts lacked upward momentum. It is expected to fluctuate relatively stable with a weak trend next week.

Source: SMM

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