Aluminum Prices Edge Up Amid Inventory Increase and Market Optimism

On March 3, SMM A00 aluminum was quoted at 20,630 yuan/mt, up 30 yuan, with a discount of 30 yuan against the 03 contract, unchanged. On March 3, SMM A00 aluminum (Foshan) was quoted at 20,600 yuan/mt, up 20 yuan, with a discount of 55 yuan against the current month, widening by 5 yuan. (Unit: yuan/mt)

The aluminum billet inventory in major domestic consumption areas stood at 314,200 mt, an increase of 1,500 mt WoW. Today, the SHFE aluminum futures market center continued to move upward. Suppliers were optimistic about the market outlook, processing fees fluctuated upward, and downstream purchases were mainly driven by rigid demand. Market transactions have not yet shown a significant increase, and the current focus remains on the potential strengthening of futures and spot markets during the "golden March and silver April" peak season. Today, the Foshan aluminum billet market was quoted at 160–210 yuan/mt, up 10 yuan; the Wuxi market processing fee was quoted at 200–250 yuan/mt, up 40 yuan; and the Nanchang region processing fee was quoted at 180–230 yuan/mt, up 20 yuan. (Unit: yuan/mt)