Actual transactions were mainly at parity to a premium of RMB 10 per tonne against the SMM average price, and spot discounts showed signs of narrowing. Today, the East China market selling sentiment index was 2.71, up 0.09 m-o-m; the purchasing sentiment index was 2.63, up 0.03 m-o-m. SMM A00 aluminium was quoted at RMB 21,770 per tonne, down RMB 110 per tonne from the previous trading day, at a discount of 90 per tonne against the December contract, flat from the previous trading day.
Today, transaction conditions in the central China market held steady. The absolute futures price pulled back, and downstream purchase willingness rebounded. However, due to large premiums and discounts and the price spread between futures contracts, most holders adopted a wait-and-see stance. The market atmosphere was characterised by a relative shortage of goods, and purchasers successively raised their bids, leading to continuously rising market quotations.
