July 29: Aluminum prices drop back slightly, spot cargo transactions remain weak [Daily Review of Spot Aluminum Billet]

SMM reported on July 29:

On July 29, SMM A00 aluminum was quoted at 20,620 yuan/mt, down 40 yuan/mt from the previous trading day, trading on par with the August contract, unchanged from the previous trading day. On July 29, SMM A00 aluminum (Foshan) was quoted at 20,600 yuan/mt, down 50 yuan/mt, trading at a 15 yuan/mt discount to the current month, expanding by 10 yuan/mt (unit: yuan/mt).

According to SMM statistics, in terms of domestic aluminum billet inventory in two regions, Guangdong had 58,500 mt of aluminum billet inventory, and Wuxi had 30,500 mt of aluminum billet inventory, totaling 89,000 mt, up 1,500 mt MoM. Today, aluminum prices continued to decline, and there was an upward sentiment in market processing fees. However, downstream demand remained insufficient during the off-season, maintaining a rigid demand and price-driving purchasing rhythm. Spot trading sentiment remained weak, and the increase in processing fees was quite limited. As of July 29, 2025, aluminum billet market quotes in Foshan were 220/270 yuan/mt, unchanged; aluminum billet processing fees in Wuxi were quoted at 220/320 yuan/mt, up 40 yuan/mt; processing fees in Nanchang were quoted at 170/220 yuan/mt, up 30 yuan/mt (unit: yuan/mt).