1.23: Aluminum Billet Inventory Buildup Accelerates, Surpassing the 200,000 Mark; Aluminum Billet Market Transactions Remain Sluggish Due to the Off-Season [Daily Review of Spot Aluminum Billet]

SMM, January 23:

On January 23, SMM A00 aluminum closed at 20,200 yuan/mt, down 40 yuan/mt, with a discount of 20 yuan/mt against the February contract, up 10 yuan/mt. The Henan-Shanghai price spread was -110 yuan/mt, up 20 yuan/mt. SMM Central China closed at 20,090 yuan/mt, down 20 yuan/mt. (Unit: yuan/mt)

Aluminum Billet Spot Market: According to SMM statistics, domestic aluminum billet inventory totaled 200,800 mt, an increase of 23,000 mt compared to Monday. As downstream profile enterprises have largely entered the holiday phase, downstream buying sentiment in the market remained weak. Currently, most transactions in the market are between traders, and the inventory buildup of domestic aluminum billets continues to accelerate. Aluminum prices fluctuated downward, suppliers quoted passively, and buyers mostly adopted a wait-and-see approach, resulting in sparse market transactions. Processing fees for aluminum billets in three regions remained rangebound, showing a market with prices but no transactions. Today, processing fees in the South China market were reported at 100-150 yuan/mt, flat; Wuxi market processing fees were reported at 150-200 yuan/mt, flat; and Nanchang region processing fees were reported at 180-220 yuan/mt, flat. (Unit: yuan/mt)

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