SMM News, March 31:
Aluminum ingot: On March 31, SMM A00 aluminum (Foshan) was reported at 24,520, up 90, at a discount of 190 to the current-month contract, widening by 5 (unit: yuan/mt)
SHFE aluminum 04 contract continued its upward trend today, while the South China spot market gradually weakened. At the start of the new week, overall buyer procurement sentiment weakened today, and downstream players, wary of high prices, showed weak willingness to rush to buy amid continuous price rise. Under the dual pressure of high absolute prices and inventory buildup, sellers were prompted to actively accelerate price cuts for shipments to lock in profits. Although some hedging cargo holders still held prices firm and shipped slowly, dragged down by relatively ample circulation, the overall strength of holding prices firm became increasingly limited. Today, mainstream transaction prices in the market were concentrated at premiums of -200 yuan/mt to -180 yuan/mt against the SHFE aluminum 04 contract.
