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Shanghai Metal Network: Shanghai aluminum weak rebound, spot trading average.

K-LinePoet
Today, Shanghai Metal Network quoted spot A00 aluminum ingots at 22,820-22,860 yuan/ton, with an average price of 22,840 yuan/ton, up 80 yuan/ton from the previous trading day. Against the 2607 contract, it was quoted at a discount of 10 to a premium of 30 yuan/ton. The US Dollar Index retreated to below 101, and aluminum prices, after consolidating at lower levels, rebounded. As of the midday close, the main Shanghai aluminum contract rose 190 yuan/ton, up 0.84%. Today’s spot market saw limited changes; aluminum prices rebounded on the weaker side, downstream consumption sentiment was generally average, and most buying during the session was mainly for rigid demand. Overall, spot transactions were mediocre, and East China aluminum ingots kept a premium of around +10 versus the 07 contract. (SHMET)
XAL1.20%
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