SMM, September 15:
Aluminum prices stopped falling and rebounded slightly today, while the spot market remained in the doldrums. An aluminum enterprise in Southwest China launched a tender for incremental aluminum ingot, with tight near-term arrivals but expectations of higher subsequent arrivals. Combined with absolute prices at relatively low levels after the pullback, suppliers diverged again internally, with some holding prices firm while others cut prices to cash out, easing spot cargo circulation somewhat. Some downstream buyers showed willingness to rush to buy amid continuous price rise, steadily restocking. However, traders remained cautious, showing limited willingness to enter the market and only taking orders as needed. Demand follow-through was insufficient, and transactions weakened marginally. Spot transaction prices were concentrated at premiums of 190 yuan/mt to 230 yuan/mt over the SHFE aluminum 2609 contract.
