Aluminum prices rose sharply, leading to downstream wait-and-see sentiment and poor market transactions [Spot Aluminum Billet Daily Review]

Today, SMM A00 spot aluminium prices increased by 150 yuan/mt compared to the previous working day, reporting at 21,030 yuan/mt. Foshan A00 aluminium reported at 20,960 yuan/mt, up 140 yuan/mt from the previous working day. The aluminum price surged significantly today, leading to downstream wait-and-see sentiment, and resulting in overall poor market transactions.

Approaching noon, the transaction prices for φ120 and φ178 aluminium billet conversion margins in South China were concentrated around 130 yuan/mt, and for φ90 billets, the conversion margin was 170 yuan/mt, down 20 yuan/mt from the previous working day. The East China market saw poor transactions; approaching noon, the transaction price for φ120 billet conversion margins was 120 yuan/mt, and for φ90 small billets, it was 200 yuan/mt, down 40 yuan/mt from the previous working day. In Nanchang, transactions were mediocre, with reported conversion margins of 10 yuan/mt for φ120 billets and 50 yuan/mt for φ90 billets. The weekly average price of conversion margins in Linyi, Shandong, was flat from a week ago, with the weekly average price for φ120 billets around 250 yuan/mt.