At midday today, copper futures closed at 78,190 yuan/mt, down 170 yuan/mt from yesterday. In Hubei, secondary copper rod was quoted at 77,700-77,800 yuan/mt, with a discount of 390-490 yuan/mt (average discount of 440 yuan/mt) against the front-month contract. Secondary copper rod plants generally reported that high raw material prices had limited production activity, resulting in generally average overall production performance. Some copper rod enterprises were also affected, with lower spot reserves.

[SMM Daily Review on Coal and Coke] In terms of supply, affected by losses and environmental protection policies, some coke enterprises have expanded the scope and intensity of production restrictions, with operating rates remaining average. On the demand side, some steel mills have resumed blast furnace production, leading to an increase in purchase willingness for coke. However, most steel mills maintain coke inventories at safe levels and continue to purchase as needed. In summary, the Two Sessions policies did not exceed market expectations. Coupled with the steel mills' desire to bargain down prices for coke, the coke market is expected to operate stable with a weak trend in the short term, with the eleventh round of coke price cuts still anticipated to materialize.

Aluminum plays a pivotal role in numerous industries, making its price fluctuations a subject of significant interest. Understanding the dynamics of the aluminum market is essential for businesses and investors alike. This article explores the key factors influencing aluminum prices, historical trends, and the impact of economic policies.

SMM data showed that the PMI for China’s aluminum processing sectors dipped 3.7 points MoM to 43.6% in December, remaining below 50%.