July 15: The center of aluminum billet processing fees moved upward, and downstream rigid demand was released, leading to a slight improvement in transactions [Daily Review of Spot Aluminum Billets]

SMM July 15 Report:

On July 15, SMM A00 aluminum closed at 20,510 yuan/mt, up 40 yuan/mt from the previous trading day, with a premium of +50 yuan/mt against the July contract, and the premium increased by 110 yuan/mt from the previous trading day. The price spread between Henan and Shanghai was -140 yuan/mt, unchanged from the previous trading day. SMM central China closed at 20,370 yuan/mt, up 40 yuan/mt from the previous trading day. On July 15, SMM A00 aluminum (Foshan) closed at 20,500 yuan/mt, up 40 yuan/mt, with a premium of 75 yuan/mt against the next-month contract and 40 yuan/mt against the current-month contract (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 76,000 mt, and the inventory of aluminum billet in Wuxi was 22,100 mt, totaling 98,100 mt, down 200 mt MoM. Affected by the unexpected increase in aluminum ingot inventory on Monday, the center of SHFE aluminum prices shifted significantly downward. Considering the impact of costs, aluminum billet manufacturers intended to refuse to budge on prices, and suppliers also had a mindset to refuse to budge on prices. As a result, the center of aluminum billet processing fees shifted significantly upward. Despite being in the off-season, downstream manufacturers had a rigid demand for restocking after experiencing the previous round of high aluminum prices. Therefore, downstream manufacturers also had an intention to buy the dip, and the market transaction atmosphere improved slightly. As of July 15, 2025, the aluminum billet market in Foshan reported processing fees of 150/200 yuan/mt, unchanged; the aluminum billet processing fees in Wuxi were quoted at 230/280 yuan/mt, unchanged; and the processing fees in Nanchang were reported at 100/150 yuan/mt, unchanged (unit: yuan/mt).

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