Shanghai Metal Network: Shanghai aluminum remains relatively strong with an upward trend, downstream consumption is still decent

Today, Shanghai Metal Market spot A00 aluminum ingots are quoted at 24,370-24,410 yuan/ton, with an average price of 24,390 yuan/ton, up 440 yuan/ton from the previous trading day. The contract for 2603 is quoted at a premium of 170-130 yuan/ton. Geopolitical tensions continue to escalate, and aluminum prices remain relatively strong. By midday, the Shanghai aluminum main contract rose by 575 yuan/ton, a 2.37% increase. Due to the Middle East situation, short-term market sentiment is quite bullish, with downstream buyers becoming more cautious about high prices. Consumption has accelerated compared to before, and traders are maintaining their prices. In East China, aluminum ingot quotes have converged around -150 yuan. (SHMET)

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