The basis remains around 150 RMB due to the increase in spot prices. Financial traders are significantly increasing their willingness to sell spot goods in the far-end delivery warehouses, and downstream buyers are actively purchasing. Essentially, every sale results in a transaction. However, the available spot supply around the delivery warehouses is limited, and the small supply scale cannot alleviate the supply pressure from nearby aluminum plants. In northern production areas, alumina is also experiencing a new round of concentrated purchasing driven by demand. Although spot transactions remain relatively few, frequent trading is continually driving price discovery. Currently, spot prices in Shanxi are generally trending above 4000 RMB.
