April 30: The most-traded SHFE aluminum contract remained firm, and aluminum billet processing fees held steady [[Daily Review of Spot Aluminum Billet]]

SMM reported on April 30:

On April 30, SMM A00 aluminum was quoted at 20,060 yuan/mt, up 40 yuan/mt from the previous trading day, with a discount of 10 yuan/mt against the May contract, down 10 yuan/mt from the previous trading day. On April 30, SMM A00 aluminum (Foshan) was quoted at 19,980 yuan/mt, up 40 yuan/mt, with a discount of 90 yuan/mt against the current-month contract, widening by 15 yuan/mt. (Unit: yuan/mt)

According to SMM statistics, on April 30, the inventory of aluminum billets in major domestic consumption areas was 151,000 mt, a decrease of 11,600 mt from the previous Monday. This morning, the most-traded SHFE aluminum contract continued to hover around the 20,000 yuan/mt mark. As the Labour Day holiday approached, suppliers held firm on their processing fee quotes. Suppliers in South China intended to accelerate their sales pace and lowered their processing fees. In the Nanchang area of east China, processing fees remained stable as downstream buyers continued to purchase based on immediate needs. However, due to it being the day before the Labour Day holiday, trading sentiment was somewhat lackluster. Today, the processing fees in the Foshan aluminum billet market were quoted at 320/370 yuan/mt, down 10 yuan/mt. In the Wuxi market, processing fees were quoted at 350/450 yuan/mt, unchanged. In the Nanchang area, processing fees were quoted at 400/450 yuan/mt, unchanged. (Unit: yuan/mt)

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