Trading volume was 617 lots, and open interest was 5,096 lots, with bears mainly reducing positions. Technical indicators suggest the AD2512 futures contract is in a short-term bullish trend, with the moving averages in a bullish alignment providing strong support, and the price stabilising and rebounding above the support level; however, attention should be paid to whether it can break through the resistance level at 20,775.
Spot-Futures Price Spread Report: According to SMM data, on October 28, the SMM ADC12 spot price theoretically traded at a premium of RMB 580 per tonne to the closing price of the most-traded cast aluminium alloy contract (AD2512) at 10:15.
Warrant Report: SHFE data showed that on October 28, the total registered warrant volume for cast aluminium alloy was 48,836 tonne, an increase of 118 tonne from the previous trading day. Among them, the total registered volume in Shanghai was 4,244 tonne, unchanged from the previous trading day; the total registered volume in Guangdong was 14,303 tonne, an increase of 177 tonne from the previous trading day; the total registered volume in Jiangsu was 8,474 tonne, an increase of 213 tonne from the previous trading day; the total registered volume in Zhejiang was 16,801 tonne, a decrease of 272 tonne from the previous trading day; the total registered volume in Chongqing was 5,014 tonne, unchanged from the previous trading day; the total registered volume in Sichuan was 0 tonne, unchanged from the previous trading day.
