Based on the spot tender transactions from a few aluminum plants in the northwest over the past weekend and early this week, the spot prices for aluminum delivered to Shanxi or Shandong, when converted from the prices of different aluminum plants won by traders, are around 3100 CNY/ton and 3050 CNY/ton, respectively. However, due to the unknown actual delivery locations of the traders’ contracts, these prices are mostly theoretical conversion prices. These two prices reflect a slight divergence in market participants’ expectations of the future trend, whether they are industry participants or financial players. Financial participants are more aligned with the current sales intentions of alumina companies, while industry traders continue to lead the spot market downward, focusing on fulfilling their contract volumes while aiming to reduce the cost of long-term purchases and mitigate the risk of future price declines.
