Aluminum alloy futures remain strong on the first day after the holiday, with spot prices diverging

In the futures market, on the first trading day after the holiday, aluminum alloy 2604 opened at a low of 22,070 yuan/ton, with early trading sentiment relatively strong, and prices once surged to 22,460 yuan/ton. Subsequently, the market fluctuated and declined, closing at 22,320 yuan/ton, up 1.27% from the last trading day before the holiday. During the day, short positions were mainly reduced, and overall the market remains in a consolidation phase after previous declines.

In the spot market, today’s SMM ADC12 price was raised by 100 yuan/ton to 23,750 yuan/ton. The first day after the holiday saw futures prices perform relatively strongly, boosting market sentiment, but quotes from recycled aluminum enterprises showed some divergence. Some companies are considering that downstream production has not fully resumed, so they maintain pre-holiday price ranges and stay cautious; others have followed the trend and increased prices by 100 yuan/ton. The inquiry atmosphere in the market is gradually recovering, but actual transactions remain subdued, and the market continues to be cautious. (Shanghai Nonferrous Metals Network)