SMM Daily: A00 Aluminum Prices Rise, Aluminum Billet Inventory Declines

SMM March 27 News:

On March 27, SMM A00 aluminum was quoted at 20,810 yuan/mt, up 140 yuan/mt from the previous day, at a discount of 10 to the April contract, flat. On March 27, SMM A00 aluminum (Foshan) was quoted at 20,780 yuan/mt, up 120 yuan/mt, at a discount of 35 to the current month, widening by 15. (Unit: yuan/mt)

In terms of aluminum billet inventory, according to SMM statistics, the inventory of aluminum billets in mainstream consumption areas in China on March 27 was 272,000 mt, down 16,000 mt WoW from last Thursday. Today, SHFE aluminum returned above 20,800 yuan/mt, and the supply of goods in South China is expected to tighten. The market processing fee saw limited declines, while in Nanchang, east China, the processing fee pulled back significantly due to the upward shift in the price center of aluminum. Mid-week, bargain down purchasing prices were still prevalent, and actual transaction feedback was average. Today, the Foshan aluminum billet market was quoted at 160/210 yuan/mt, down 10 yuan/mt; the Wuxi market processing fee was quoted at 150/200 yuan/mt; the Nanchang area processing fee was quoted at 150/200 yuan/mt, flat. (Unit: yuan/mt)