Shanghai Aluminum Futures Plummet, Zhongyuan Market Premiums Hold Elevated

XAL-1.67%
According to SMM, Shanghai aluminum futures prices plummeted overnight and into early morning trading on June 16, as downstream processing enterprises increased purchase appetite. Traders sought to capture price spreads quickly, with quotes remaining elevated. Physical market transactions in Zhongyuan region settled at a discount of 120–140 yuan per ton against the July aluminum contract.
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