SHANGHAI, Aug. 10 (SMM) –Aluminum billet processing fees have been falling dramatically in Guangdong recently and are even offered flat with or lower than aluminum ingot prices, SMM learned.
SMM attributes the situation to three factors.
First, SHFE aluminum surged of late. Current high aluminum prices are unacceptable to aluminum billet buyers. Second, aluminum billet stocks at public and private warehouses in Guangdong may have exceeded 200,000 tonnes, according to incomplete statistics. Third, orders fall sharply at local aluminum extrusion producers in the off-season, hurting aluminum billet demand.
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