Aluminum Prices Decline Slightly with Weak Transactions and Shrinking Inventory

On March 4, SMM A00 aluminum was quoted at 20,600 yuan/mt, down 30 yuan, with a discount of 40 yuan against the March contract, narrowing by 10 yuan. On the same day, SMM A00 aluminum (Foshan) was quoted at 20,590 yuan/mt, down 10 yuan, with a discount of 50 yuan against the current-month contract, narrowing by 5 yuan. (Unit: yuan/mt)

Regarding domestic aluminum billet inventory, aluminum billet inventory in Guangdong stood at 158,800 mt, and in Wuxi at 73,600 mt, with a total decrease of 1,800 mt. SHFE aluminum fell back from highs today, processing fees remained range-bound, and suppliers reported weak shipments, while downstream sentiment turned cautious again, leading to weaker market transactions compared to yesterday. Today, Foshan aluminum billet market was quoted at 150–200 yuan/mt, down 10 yuan; Wuxi market processing fees were quoted at 200–250 yuan/mt, flat; and Nanchang region processing fees were quoted at 180–230 yuan/mt, also flat. (Unit: yuan/mt)