Aluminum Scrap Prices Follow Upward Trend but with Regional Divergence Market Supply Increases [SMM Cast Aluminum Alloy Morning Comment]
[smm cast aluminum alloy morning comment: aluminum scrap prices rise but with regional divergence market supply increases] overnight, the 2604 contract for aluminum alloy opened higher and retreated after a rapid rise. it touched a high of 23,305 yuan/mt at the opening and then fluctuated downward, reaching a low of 22,940 yuan/mt, before rebounding slightly towards the close. it finally closed at 230,450 yuan/mt, down 135 yuan/mt from the previous close, a decline of 0.58%. the futures showed a move downwards after a higher opening, indicating a weakening of short-term bullish momentum. trading volume remained low, and open interest decreased slightly, suggesting a cautious approach to trading.