SMM, May 15:
During the morning session, the SHFE aluminum 2606 contract fluctuated downward, with the overall price center moving significantly lower compared to the previous trading day. Today, market purchasing sentiment remained weak. Affected by the sharp decline in aluminum prices, some sellers showed strong sentiment to hold prices firm. Mainstream spot cargo quotations in the market ranged from SMMA00 minus 10 yuan/mt to minus 20 yuan/mt. Today, the east China market shipment sentiment index was 3, unchanged MoM; the purchasing sentiment index was 2.83, up 0.03 MoM.
Today, aluminum futures prices pulled back significantly from the previous day's morning session. Combined with the fact that it was Friday, downstream processing enterprises in the central China market saw a recovery in stockpiling sentiment, and the overall trading atmosphere improved. However, suppliers' shipment sentiment edged down compared to the previous day. Ultimately, actual transaction prices in the central China market ranged between parity and a discount of 10 yuan to the central China price. Today, the central China market shipment sentiment index was 2.83, unchanged MoM; the purchasing sentiment index was 2.26, unchanged MoM.
Inventory side, aluminum ingot inventory in major consumption areas fell 0.35 MoM today, with destocking originating from Guangdong and Wuxi.
