SMM, July 15 –
In the morning session, the trading center of the SHFE aluminum 2606 contract was below the level at the same time of the previous trading day. Affected by the off-season, market procurement sentiment remained weak today, with mainly just-in-time procurement and ample circulating goods. Transactions were concluded at a discount of 10-20 yuan/mt against the SHFE aluminum Aug contract. The shipment sentiment index in east China today was 3.11, up 0.03 from the previous trading day; the procurement sentiment index was 3.00, down 0.16 from the previous trading day.
The overall trading atmosphere in the central China market today turned subdued compared with the previous two days. Some downstream processing enterprises began to make small-scale purchases today, but traders' hedging sentiment declined significantly from the previous few days, leading to reduced procurement volumes. Some suppliers slightly lowered their selling offers. The final actual transaction price range in the central China market was centered around a discount of 150-170 yuan/mt against the SHFE aluminum Aug contract. The shipment sentiment index in central China today was 2.80, down 0.02 from the previous trading day; the procurement sentiment index was 2.22, down 0.01 from the previous trading day.
In terms of inventory, aluminum ingot inventory in major consumption areas today fell 0.8 from the previous trading day, with the main destocking in Wuxi and Guangdong.
