【SMM Midday Review of Spot Aluminum: On the Last Trading Day Before the Holiday, SHFE Aluminum Spot Trades Showed Ordinary Performance】

According to SMM statistics, the inventory of aluminum billets in China's major consumption areas stood at 151,000 mt on April 30, a decrease of 11,600 mt from the previous Monday. This morning, the most-traded SHFE aluminum contract continued to oscillate around the 20,000 yuan/mt level. As the Labour Day holiday approached, suppliers held firm on their processing fee quotes. In South China, suppliers intended to accelerate the pace of sales and lowered their processing fees. In the Nanchang area of east China, however, processing fees remained stable as downstream buyers maintained their just-in-time purchases. Nevertheless, trading sentiment was somewhat lackluster on the day before the Labour Day holiday. Today, the aluminum billet market in Foshan reported processing fees of 320/370 yuan/mt, a decrease of 10 yuan/mt. The processing fees in Wuxi market were reported at 350/450 yuan/mt, unchanged. In the Nanchang area, processing fees were reported at 400/450 yuan/mt, also unchanged. (Unit: yuan/mt)