February 14: Aluminum Prices Strong While Downstream Orders Remain Weak; Aluminum Billet Processing Fees in Three Regions Remain Flat Compared to Yesterday [Daily Review of Spot Aluminum Billets]

SMM February 14 News:

On February 14, SMM A00 aluminum was quoted at 20,600 yuan/mt, up 90 yuan, with a discount of 40 yuan to the February contract, down 10 yuan. On the same day, SMM A00 aluminum (Foshan) was quoted at 20,610 yuan/mt, up 80 yuan, with a discount of 25 yuan to the current month and 25 yuan to the next month. (Unit: yuan/mt)

According to SMM statistics, aluminum billet inventory in major domestic consumption areas stood at 300,400 mt, an increase of 5,900 mt compared to Monday. Subsequently, the resumption of work in downstream industries proceeded in an orderly manner, and the accumulation of aluminum billet inventory, especially in east China, showed signs of gradual easing. However, aluminum prices opened lower today and then surged strongly, but were constrained by limited new orders from downstream and high aluminum prices. Additionally, with more sellers in the market, overall sentiment was poor, and the ability to stand firm on quotes was significantly weak. Today, aluminum billet processing fees in the Foshan market were quoted at 150-200 yuan/mt, unchanged; in the Wuxi market, processing fees were quoted at 180-230 yuan/mt, unchanged; and in the Nanchang region, processing fees were quoted at 170-220 yuan/mt, unchanged. (Unit: yuan/mt)

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