China's Monetary Policies Boost SHFE Aluminum Rebound, Spot Market Stabilizes with Firm Prices

【SMM Aluminum Spot Afternoon Commentary: Domestic Policy Boosts SHFE Aluminum Rebound, Aluminum Spot Market Transactions Stabilize】

SMM, September 24

Today's aluminum market experienced a rebound fueled by a series of favorable monetary policies announced by China's central bank. Downstream buyers in East China displayed increased enthusiasm for replenishing inventories, coupled with the scarcity of recent arrivals, leading to brisk trading in the East China spot market, where suppliers mainly held firm prices and offered shipments. Today, the SMMA00 aluminum price was recorded at a discount of 50 yuan/ton against the 10-contract, unchanged from the previous trading day, with SMMA00 settling at 19,800 yuan/ton, up 100 yuan/ton from the previous day...