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LME aluminum futures weaken; traders’ quotes are higher; deals trade at a discount and the discount is running.

K-LinePoet
Today, the aluminum market’s spot quotation on the board weakened noticeably on a month-over-month basis compared with yesterday’s early-session opening. However, traders in the Central Plains market raised their quotes again. But due to a combination of factors—including downstream processing enterprises’ relatively low willingness to take delivery and the monthly average price of long-term orders being lower than the current price—the market has a relatively large amount of spot liquidity, which slightly suppressed the realized transaction premiums/discounts. Ultimately, the Central Plains market’s actual transaction prices mainly ranged between discounts of 110–140 yuan/ton to the Shanghai Futures Exchange (SHFE) Aluminum 08 contract. (SMM)
XAL-0.13%
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