SMM Aluminum Spot Market Midday Review: Aluminum Base Price Rises and Accumulated Inventories Pressure Spot Premiums

SMM, February 21st: The main contract of Shanghai Aluminum fell rapidly after the opening today, and then mainly fluctuated upward. Trading activity in the East China region was still good today, but aluminum ingots continued to arrive in the region, adding to the rise in aluminum base prices. As a result, the spot premiums for aluminum in the East China region are under pressure. According to SMM statistics, the aluminum ingot inventory in Wuxi (excluding Hangzhou, Changzhou, Hai'an, etc.) today is 191,700 tons, an increase of 3,000 tons from the previous trading day. Today, SMM's A00 aluminum price had a premium of 20 yuan/ton over the 2403 contract, compared to the previous trading day...