March 19: SHFE Aluminum Bottoms Out and Rebounds, Aluminum Billet Processing Fees Surge Sharply [Daily Review of Spot Aluminum Billets]

SMM March 19 News:

On March 19, SMM A00 aluminum was quoted at 20,590 yuan/mt, down 200 yuan, with a discount of 50 yuan to the April contract, up 10 yuan. SMM A00 aluminum (Foshan) was quoted at 20,590 yuan/mt, down 210 yuan, with a discount of 45 yuan to the current month, flat. (Unit: yuan/mt)

According to SMM statistics, domestic aluminum billet inventory in two regions: aluminum billet in Guangdong was 168,800 mt, aluminum billet in Wuxi was 58,500 mt, with a total decrease of 700 mt. SHFE aluminum mildly rebounded after testing the bottom today, but due to the significant MoM decline in the base price, aluminum billet processing fees were significantly raised. The current market still shows divergence, with downstream restocking mainly based on rigid demand, and transactions showing a recovery trend. Today, Foshan aluminum billet market was quoted at 190/240 yuan/mt, up 80 yuan; Wuxi market processing fees were quoted at 280/350 yuan/mt, up 100 yuan; Nanchang region processing fees were quoted at 220/270 yuan/mt, up 120 yuan. (Unit: yuan/mt)

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