[SMM Daily Comment: Supply and Demand Resonate on Both Sides, NPI Prices Continue to Rise] On April 30, SMM high-grade NPI upstream sentiment factor was 3.58, up 0.04 MoM, and the high-grade NPI downstream sentiment factor was 2.6, flat MoM.

[SMM Aluminum Alloy Daily Review] The ADC12 market overall remained in the doldrums today. SMM ADC12 prices were lowered by 100 yuan/mt to 23,800 yuan/mt. Affected by the pullback in primary aluminum prices and weak downstream demand, enterprises actively lowered their offers, and the mainstream transaction center shifted downward. With the Labour Day holiday approaching, downstream enterprises gradually entered production suspension or production cuts mode. Pre-holiday stocking demand was notably insufficient, and market trading sentiment turned sluggish.

Today's daytime session saw platinum futures prices continue to edge down. The most-traded PT2606 contract on the Guangzhou Futures Exchange closed at 483.85 yuan/gram in the morning session, down 0.81%. The SGE Pt9995 versus Guangzhou Futures Exchange PT2606 was inverted by 1-2 yuan/gram. Spot side, mainstream spot quotations showed discounts basically flat compared to the previous trading day. Morning session spot platinum trader mainstream quotations were at a discount of 1-3 yuan/gram to PT2606. Many enterprises temporarily withdrew from market quotations due to invoicing rectification and the approaching holiday. Transaction side, according to SMM, a small volume was traded at around a 3 yuan/gram discount to Guangzhou Futures Exchange contracts in the morning session. Downstream enterprises showed low purchase willingness and mostly adopted a wait-and-see approach. The overall market was dominated by a strong holiday atmosphere, with both trading and investment activity remaining subdued.

[SMM Chrome Daily Review: Wait-and-See Sentiment Dominated with Limited Transactions, Chrome Market Remained Stable for Now] April 29, 2026: The ferrochrome and chrome ore market saw limited fluctuations...

The most-traded hot-rolled coil (HRC) contract fluctuated upward today, closing at 3,407, up 0.8% MoM. HRC spot prices followed suit, rising 10-30 yuan/mt. In terms of supply, the impact from maintenance on hot rolling this week was 199,500 mt, up 10,000 mt WoW; next week's impact from maintenance on hot rolling will be 18.85 mt, down 11,000 mt WoW, with short-term supply staying high. Demand side, as futures rose, some end-users began pre-holiday restocking at low prices, and willingness to purchase at low prices for basis trading and speculation also strengthened. Cost side, Brent crude oil continued to rise, and cost support remained. Looking ahead, sheets & plates were in a pattern of strong supply-demand dynamics in the short term, bullish sentiment existed outside China, and the..

[SMM Daily Comment: Downstream Transaction Volume Increase Drove Prices Up, Bullish Sentiment Strengthened] April 29 — The SMM high-grade NPI upstream sentiment factor was 3.54, up 0.24 MoM, and the high-grade NPI downstream sentiment factor was 2.6, up 0.71 MoM.