[SMM Spot Aluminum]

SMM November 3 News:

In east China, aluminum prices climbed further, and traders increased shipments. However, most holders still intended to hold premiums firm. Around market opening, offers from holders were mostly at parity to a premium of 10 yuan/mt over the SMM average price. Yet, high absolute prices dampened downstream purchasing interest, and actual transactions mainly occurred at a discount of 10 yuan/mt to parity relative to the SMM average. In central China, trading activity was relatively sluggish today. Before the market opened, most participants held off on offers, adopting a wait-and-see approach due to high absolute prices, with downstream buyers avoiding large-scale stockpiling. Purchasers favored buying at deep discounts, but holders held prices firm and were reluctant to sell. After 9:30 a.m., prices weakened, but the market remained quiet with thin trading volume. Actual transaction prices hovered between the central China price and a discount of 20 yuan/mt to it.