June 3: SHFE aluminum weakened after the holiday, with immediate demand not rushing to purchase and transactions showing divergence. [Daily Review of Spot Aluminum Billet]

SMM News on June 3:

On June 3, SMM A00 aluminum was reported at 20,120 yuan/mt, down 170 yuan/mt from the previous trading day, with a premium of +110 over the June contract, unchanged from the previous trading day. On June 3, SMM A00 aluminum (Foshan) was reported at 19,970 yuan/mt, down 170 yuan/mt, with a discount of 40 yuan/mt against the current month, expanding by 5 yuan/mt (unit: yuan/mt).

According to SMM statistics, on June 3, the inventory of aluminum billets in major domestic consumption areas was 127,700 mt, down 600 mt from last Thursday, with inventory remaining stable at a low level compared to the same period in the past three years. After the holiday, aluminum prices pulled back sharply. In the morning session of today's aluminum billet market, there was an attempt to raise prices, but the performance of rigid demand was poor, with downstream buyers mainly adopting a wait-and-see approach. Suppliers had divergent quotes during the trading session, with those facing greater pressure to sell lowering their quotes to realize cash. Overall, transaction performance was mediocre. Today, the aluminum billet market in Foshan was quoted at 350/400 yuan/mt, up 50 yuan/mt; the processing fee in the Wuxi market was quoted at 320/400 yuan/mt, unchanged; and the processing fee in the Nanchang area was quoted at 300/350 yuan/mt, up 50 yuan/mt (unit: yuan/mt).

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