SHFE aluminium falls, East China premium pulls back

Today, the centre of SHFE aluminium futures fell from the previous trading day, market shipment sentiment was relatively pronounced, and overall spot aluminium transactions shifted to discounts. Today, market transactions for A00 aluminium ingot premiums were between a discount of RMB 40 per tonne and parity. Today, the east China market shipment sentiment index was 3.2, up 0.05 M-o-M; the procurement sentiment index was 3.15, down 0.25 M-o-M.

Today, the overall trading atmosphere in the central China market remained at yesterday's level. The monthly average price met market trading expectations, somewhat boosting traders' enthusiasm for shipments, but downstream processing enterprises' procurement sentiment consistently remained at the previous day's level.

Ultimately, the actual transaction price range in the central China market centred on a discount of RMB 110-130 per tonne against the SHFE aluminium September contract. Today, the central China market shipment sentiment index was 3.13, up 0.04 M-o-M; the procurement sentiment index was 2.9, unchanged M-o-M. Inventory side, today aluminium ingot inventory in major consumption areas increased by 1,000 tonnes M-o-M, with only Gongyi showing destocking.

Note: This article has been issued by SMM and has been published by AL Circle with its original information without any modifications or edits to the core subject/data.