March 3: SHFE Aluminum Maintains Upward Trend, Processing Fees Stand Firm on Quotes, Transactions Yet to Increase [Daily Review of Spot Aluminum Billet]

SMM March 3 News:

On March 3, SMM A00 aluminum was quoted at 20,630 yuan/mt, up 30 yuan/mt, with a discount of 30 yuan/mt against the March contract, unchanged. On the same day, SMM A00 aluminum (Foshan) was quoted at 20,600 yuan/mt, up 20 yuan/mt, with a discount of 55 yuan/mt against the current month contract, widening by 5 yuan/mt. (Unit: yuan/mt)

The aluminum billet inventory in major domestic consumption areas stood at 314,200 mt, an increase of 1,500 mt WoW. Today, the SHFE aluminum futures market center continued to move upward. Suppliers were optimistic about the market outlook, processing fees fluctuated upward, and downstream purchases were mainly based on rigid demand. Market transactions have not yet shown a significant increase, and the current situation still requires waiting for the strengthening trend of futures and spot markets during the "Golden March and Silver April" peak season. Today, Foshan aluminum billet market processing fees were quoted at 160-210 yuan/mt, up 10 yuan/mt; Wuxi market processing fees were quoted at 200-250 yuan/mt, up 40 yuan/mt; Nanchang market processing fees were quoted at 180-230 yuan/mt, up 20 yuan/mt. (Unit: yuan/mt)

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