SMM March 7 Aluminum Prices and Inventory Update

SMM March 7 News:

On March 7, SMM A00 aluminum was quoted at 20,840 yuan/mt, up 40 yuan/mt, with a discount of 50 yuan/mt against the 03 contract, down 0 yuan/mt. On the same day, SMM A00 aluminum (Foshan) was quoted at 20,810 yuan/mt, up 20 yuan/mt, with a discount of 80 yuan/mt against the current month, widening by 20 yuan/mt. (Unit: yuan/mt)

Regarding domestic aluminum billet inventory, aluminum billet inventory in Guangdong stood at 157,900 mt, while Wuxi's inventory was 70,000 mt, with a total decrease of 1,200 mt. Today, SHFE aluminum remained in a high-level consolidation, with quotes largely unchanged from yesterday. Suppliers sold at high levels, while downstream just-in-need purchases occurred ahead of the weekend. There was also circulation among traders. Currently, bearish sentiment persists, and trading activity remains relatively cautious. Today, Foshan aluminum billet market quotes were 100–150 yuan/mt, unchanged; Wuxi market processing fees were 130–180 yuan/mt, unchanged; and Nanchang region processing fees were 70–120 yuan/mt, unchanged. (Unit: yuan/mt)