June 24: International situation eases with ceasefire between Iran and Israel; aluminum prices fall, while there is reluctance to budge on prices in the aluminum billet market [Daily Review of Spot Aluminum Billet]

Published: Jun 24, 2025 16:41

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According to SMM statistics, regarding the inventory of aluminum billets in two domestic locations, the inventory of aluminum billet in Guangdong was 64,200 mt, and the inventory of aluminum billet in Wuxi was 19,500 mt, totaling 84,000 mt, a decrease of 200 mt MoM. Today, the market was influenced by the "Israel-Hamas ceasefire agreement," leading to a significant drop in the price center of crude oil and a relaxation of international tensions. Coupled with the increasing trend in domestic inventory, domestic SHFE aluminum bulls retreated, and spot prices came under pressure and pulled back. In terms of aluminum billets, market demand has entered the off-season, and inventory has officially formed an inflection point, with an expected increase in regional arrivals. Today, aluminum prices fell sharply. Suppliers mainly refused to budge on prices, but downstream buyers held a pessimistic outlook on prices and generally adopted a strategy of driving down prices and slowing procurement. Insufficient rigid demand remained the main theme, and market feedback indicated mediocre transaction performance. As of June 24, 2025, the aluminum billet market in Foshan reported processing fees of 120/170 yuan/mt, an increase of 40 yuan/mt; Wuxi reported processing fees of 230/290 yuan/mt, up 70/50 yuan/mt; and Nanchang reported processing fees of 100/150 yuan/mt, up 50 yuan/mt. (Unit: yuan/mt)

SMM June 24 report:

[SMM] On June 24, SMM A00 aluminum was quoted at 20,540 yuan/mt, down 110 yuan/mt from the previous trading day, with a premium of +150 yuan/mt over the July contract, narrowing by 10 yuan/mt from the previous trading day. On June 24, SMM A00 aluminum (Foshan) was quoted at 20,420 yuan/mt, down 110 yuan/mt, with a premium of 35 yuan/mt over the current month, narrowing by 10 yuan/mt (Unit: yuan/mt).

According to SMM statistics, regarding the inventory of aluminum billet in two domestic locations, the inventory of aluminum billet in Guangdong was 64,200 mt, and the inventory of aluminum billet in Wuxi was 19,500 mt, totaling 84,000 mt, a decrease of 200 mt MoM. Affected by the "Israel-Hamas ceasefire agreement" in the market today, the price center of crude oil shifted significantly downward, and international tensions eased. Coupled with the increasing trend in domestic inventory, domestic SHFE aluminum bulls retreated, and spot prices came under pressure and pulled back. In terms of aluminum billet, market demand has already entered the off-season of consumption, and inventory has officially formed an inflection point, with an expected increase in arrivals in the region. Today, aluminum prices fell sharply, and suppliers mainly refused to budge on prices. However, downstream expectations for prices leaned towards pessimism, and they generally adopted a strategy of driving down prices and slowing procurement. Insufficient rigid demand remained the main theme, and market feedback still indicated mediocre transaction performance. As of June 24, 2025, the aluminum billet market in the Foshan region was quoted at 120/170 yuan/mt, up 40 yuan/mt; the aluminum billet processing fees in the Wuxi region were quoted at 230/290 yuan/mt, up 70/50 yuan/mt; and the processing fees in the Nanchang region were quoted at 100/150 yuan/mt, up 50 yuan/mt (Unit: yuan/mt).

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