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Aluminum Alloy Spot and Futures Prices Both Rise, Demand Constraints Limit Upside Space
In the futures market, today’s main aluminum alloy contract 2604 experienced volatile upward movement during the trading session, closing at 23,400 yuan/ton, up 650 yuan/ton from the previous close, a 2.86% increase. The market was mainly driven by short covering, with prices breaking through recent ranges. Spot ADC12 prices also continued to rise, with mainstream quotes increasing by 100-300 yuan/ton, driven by rapid increases in raw material costs. Although demand is gradually recovering, the overall rebound remains limited, with downstream buyers still purchasing on demand. Weak demand has somewhat suppressed the upward price potential. (SMM)