SMM April 27 reported:
SHFE aluminum 2605 fluctuated upward in the morning session. Affected by weekend restocking, pre-Labour Day holiday stockpiling, and a shortage of invoices, overall buyer sentiment for purchasing aluminum ingots with invoices dated this month declined slightly but remained at a relatively strong level. Mainstream transactions for cargoes with invoices dated this month in the market were concentrated around the SMM A00 aluminum average price to +10 yuan/mt. The shipment sentiment index in the east China market was 3.32 today, down 0.1 MoM; the purchase sentiment index was 3,292, down 0.03 MoM.
The trading atmosphere for cargoes with invoices dated this month in central China was relatively heated today. Invoicing quotas declined, and cargoes with invoices dated this month were in tight supply. Traders in the market generally lacked invoices, causing a slight scramble. Meanwhile, concerns over whether invoices for the following month would be issued on schedule were notable, and trading was sluggish. Downstream processing enterprises purchased limited volumes, and overall trading of cargoes with invoices dated next month remained sluggish. Ultimately, actual transaction prices in the central China market ranged from a premium of 10 yuan to a discount of 20 yuan against the central China price. The shipment sentiment index in the central China market was 2.83 today, up 0.02 MoM; the purchase sentiment index was 2.34, down 0.05 MoM.
Inventory side, aluminum ingot inventory in major consumption areas rose 0.35 MoM today, with inventory buildup mainly in Wuxi.
