May 13: The most-traded SHFE aluminum contract approached the critical level of 20,000, with processing fees under pressure, pulling back amidst generally sluggish trading volume [Daily Review of Spot Aluminum Billet]

SMM News on May 13:

On May 13, SMM A00 aluminum was quoted at 20,010 yuan/mt, up 200 yuan/mt from the previous trading day, with a -20 yuan/mt spread against the May contract, down 20 yuan/mt from the previous trading day. On the same day, SMM A00 aluminum (Foshan) was quoted at 19,930 yuan/mt, up 170 yuan/mt, with a 95 yuan/mt discount against the current month and a 35 yuan/mt discount against the next month (unit: yuan/mt).

According to SMM statistics, in terms of domestic aluminum billet inventory in two regions, the inventory of aluminum billet in Guangdong was 79,100 mt, and that in Wuxi was 16,900 mt, totaling 96,200 mt, a decrease of 1,000 mt MoM. Affected by the easing of Sino-US trade relations, the center of aluminum prices rose today, with spot aluminum returning to the 20,000 yuan/mt level. In the morning session, processing fees continued to stand firm on quotes, with some suppliers actively lowering their quotes to expedite sales, leading to an increase in the circulation of low-priced goods. The transaction performance of some aluminum billet models was noteworthy, but market sentiment remained cautious, and trading sentiment weakened. Today, the processing fees in the Foshan aluminum billet market were quoted at 360-410 yuan/mt, down 40 yuan/mt; in the Wuxi market, they were quoted at 370-420 yuan/mt, down 30 yuan/mt; and in the Nanchang region, they remained unchanged at 400-450 yuan/mt (unit: yuan/mt).

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