June 4: SHFE aluminum rebounded strongly, with limited market circulation and improved transaction volume [Daily Review of Spot Aluminum Billet]

SMM News on June 4:

On June 4, SMM A00 aluminum was reported at 20,280 yuan/mt, up 160 yuan/mt from the previous trading day, with a premium of +100 yuan/mt over the 06 contract, narrowing by 10 yuan/mt from the previous trading day. On June 4, SMM A00 aluminum (Foshan) was reported at 20,130 yuan/mt, up 160 yuan/mt, with a discount of 50 yuan/mt against the current month, expanding by 10 yuan/mt (unit: yuan/mt).

According to SMM statistics, in terms of aluminum billet inventory in two domestic locations, the inventory of aluminum billet in Guangdong was 60,600 mt, and that in Wuxi was 19,500 mt, totaling 80,100 mt, an increase of 1,000 mt MoM. Today, aluminum prices rebounded strongly, and the aluminum billet market still attempted to stabilize in the morning session. However, there were discrepancies in the quotes of some suppliers who sought to sell at higher prices. There were also suppliers who held back on sales to maintain prices first, with limited circulation prompting traders to enter the market for purchases. Overall, transaction volumes improved somewhat. Today, the aluminum billet market in Foshan was quoted at 300/350 yuan/mt, down 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 250/300 yuan/mt, down 50 yuan/mt (unit: yuan/mt).

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