Shanghai Metal Market: Shanghai Aluminum Range Declines, Downstream Sentiment Slightly Improves

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Today, Shanghai Metals Market’s spot A00 aluminum ingots are quoted at 24,760–24,800 yuan/ton, with an average price of 24,780 yuan/ton, up 10 yuan/ton from the previous trading day. Meanwhile, the 2605 contract is quoted at a discount of 160–120 yuan/ton. Although the Middle East situation has eased somewhat, the process remains uneven. The upward trend in aluminum prices has temporarily slowed, but the downside room is also relatively limited. In the early trading session, the main Shanghai aluminum contract traded in a range; by the midday close, it ended down 105 yuan/ton, a decline of 0.42%. With the holiday approaching and aluminum prices pulling back from high levels, downstream buyers’ receiving sentiment improved slightly. During the session, sellers’ quotes versus the market’s average were reported as +0. In East China, aluminum ingots versus the 05 contract were maintained at around -140 (discount of about -140). (SHMET)

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