Aluminum prices rose sharply, and downstream sentiment was more cautious amid poor market transactions

Publicado: May 29, 2024 14:14
Fonte: SMM
Today, SMM A00 aluminum prices increased by 150 yuan/mt from the previous working day, reporting at 21,030 yuan/mt.

Today, SMM A00 aluminum prices increased by 150 yuan/mt from the previous working day, reporting at 21,030 yuan/mt. Foshan A00 aluminum reported at 20,960 yuan/mt, up by 140 yuan/mt from the previous working day. Today, aluminum prices surged significantly, leading to downstream aversion, resulting in poor market transactions.

Approaching noon, the transaction prices for Φ120 and Φ178 aluminium billet conversion margins in South China were concentrated around 130 yuan/mt, and Φ90 billet conversion margins were at 170 yuan/mt, down by 20 yuan/mt from the previous working day. The East China market saw poor transactions; approaching noon, the transaction prices for Φ120 aluminium billet conversion margins were around 120 yuan/mt, and Φ90 small billet conversion margins were around 200 yuan/mt, down by 40 yuan/mt from the previous working day. In Nanchang, transactions were moderate, with Φ120 billet conversion margins at 10 yuan/mt and Φ90 billet conversion margins at 50 yuan/mt. In Linyi, Shandong, the weekly average conversion margins for Φ120 aluminium billets remained flat from a week ago, around 250 yuan/mt.

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Aluminum prices rose sharply, and downstream sentiment was more cautious amid poor market transactions - Shanghai Metals Market (SMM)