February 12: Aluminum Prices Pulled Back From High Levels, Processing Fees Remained Stable but Transactions Were Sluggish [Daily Review of Spot Aluminum Billets]

SMM, February 12:

On February 12, SMM A00 aluminum closed at 20,540 yuan/mt, down 50 yuan/mt, with a discount of 30 yuan/mt against the February contract, up 10 yuan/mt. The price spread between Henan and Shanghai was -150 yuan/mt, unchanged, while SMM central China closed at 20,390 yuan/mt, down 50 yuan/mt. On February 12, SMM A00 aluminum (Foshan) closed at 20,550 yuan/mt, down 60 yuan/mt, with a discount of 15 yuan/mt against the current month and 25 yuan/mt against the next month. (Unit: yuan/mt)

According to SMM statistics, aluminum billet inventory in Guangdong was 139,000 mt, and in Wuxi was 64,300 mt, with a total increase of 2,400 mt. Around the Lantern Festival, downstream resumed production in an orderly manner after the holiday, and the inventory buildup, especially in Wuxi, showed signs of slowing. However, aluminum prices retreated from high levels today, and aluminum billet consumption showed no significant improvement. Downstream buyers were increasingly cautious, with only restocking for rigid demand observed. Processing fees remained stable, but transactions were sluggish. Today, Foshan aluminum billet market reported 150/200 yuan/mt, down 50 yuan/mt; Wuxi market processing fees were reported at 150/200 yuan/mt, unchanged; Nanchang region processing fees were reported at 150/200 yuan/mt, unchanged. (Unit: yuan/mt)

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