April 23: SHFE aluminum fluctuated rangebound, processing fees remained stable, and overall trading was moderate [Daily Review of Spot Aluminum Billet]

SMM April 23 News:

On April 23, SMM A00 aluminum was quoted at 19,910 yuan/mt, up 30 yuan/mt from the previous trading day, with a premium of 20 yuan/mt against the May contract, down 20 yuan/mt from the previous trading day. On April 23, SMM A00 aluminum (Foshan) was quoted at 19,870 yuan/mt, up 40 yuan/mt, with a discount of 15 yuan/mt against the current month, widening by 10 yuan/mt. (Unit: yuan/mt)

According to SMM statistics, in terms of domestic aluminum billet inventory in two regions, Guangdong aluminum billet inventory was 98,800 mt, Wuxi aluminum billet inventory was 30,400 mt, totaling 129,200 mt, a decrease of 7,100 mt MoM. In the mid-week, SHFE aluminum maintained a sideways movement, and today's aluminum price rose slightly, with processing fees remaining relatively firm. Downstream attempted to drive down purchasing prices, and although suppliers adjusted prices following the pullback in the futures market, processing fees in various regions were still maintained in the 300s, with overall trading performance being moderate. Today, the Foshan aluminum billet market was quoted at 310/360 yuan/mt, unchanged; the Wuxi market processing fee was quoted at 300/350 yuan/mt, unchanged; the Nanchang region processing fee was quoted at 300/350 yuan/mt, down 20 yuan/mt. (Unit: yuan/mt)

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