In East China, the absolute high price fluctuated at its highest. Traders refused to budge on prices and were reluctant to sell. Around market opening, quotations were at parity with the SMM average price, with poor sales enthusiasm. Later, actual transactions were at premiums of RMB 10-20 per tonne against the SMM average price.
Today, the East China market sales sentiment index was 3.03, up 0.11 W-o-W; the purchase sentiment index was 3.11, up 0.24 W-o-W. Today, SMM A00 aluminium was quoted at RMB 21,200 per tonne, up RMB 30 per tonne from the previous trading day, at a discount of about RMB 10 per tonne against the 2511 contract, up RMB 20 per tonne from the previous trading day.
In central China, before market opening, sales sentiment was high due to the night session rally. After opening, prices pulled back sharply, and suppliers slowed sales. High aluminium prices weakened downstream purchase willingness. Final transaction prices were around parity to a discount of RMB 10 per tonne against the central China price. Today, the central China market sales sentiment index was 2.86, down 0.01 W-o-W; the purchase sentiment index was 2.80, down 0.01 W-o-W.
