SMM January 15 News:
In South China's aluminum ingot market, on January 15, the average SMM A00 aluminum (Foshan) price was 24,220 yuan/mt, down 470 yuan/mt, at a discount of 50 yuan/mt to the current month's contract. Aluminum prices plummeted today, while the spot market gradually stabilized. Rapid price declines combined with continuous inventory drawdowns prompted suppliers to regain willingness to hold prices firm, only slightly lowering offers, while spot supply tightened simultaneously. Downstream restocking demand was released at low prices, and traders actively purchased non-premium spot cargo, leading to a recovery in transactions, with only a small number of additional orders filled in the lower price range.
In South China's aluminum billet market, on January 15, the processing fees for SMM 6063 grade aluminum billets (Guangdong) across various specifications concentrated on the upside, with the average price for Φ90/100 at 0 yuan/mt, and the average price for Φ120 and above specifications at -50 yuan/mt. Against the backdrop of a sharp decline in the base price, weakening futures prices during the session dampened downstream restocking sentiment, with only a small amount of low-price procurement released. Subsequently, hedging flows dominated offers with significant price cuts, but the volume discount effect was limited, and the overall trading atmosphere remained sluggish.
