SMM Daily: Aluminum Prices Decline Slightly, Aluminum Billet Inventory Drops, Processing Fees Fluctuate

SMM March 21 News:

On March 21, SMM A00 aluminum was at 20,790 yuan/mt, down 20, with a discount of 30 to the 04 contract, up 10. SMM A00 aluminum (Foshan) was at 20,780 yuan/mt, down 20, with a discount of 40 to the current month, narrowing by 5. (Unit: yuan/mt)

According to SMM statistics, in terms of domestic aluminum billet inventory in two locations, aluminum billet inventory in Guangdong was 165,700 mt, and in Wuxi it was 54,100 mt, a total decrease of 7,500 mt. Today, SHFE aluminum jumped initially and then pulled back, and processing fee quotes fluctuated. Initially, suppliers stood firm on quotes, but as the center of SHFE aluminum quickly dropped, aluminum billet processing fees were lowered. The downstream maintained a wait-and-see attitude, purchasing only out of necessity, and trading sentiment weakened. In the Foshan aluminum billet market today, processing fees were quoted at 110/160, down 20; in the Wuxi market, due to a shortage of 120 aluminum billets, processing fees remained firm, quoted at 250, while 178/90 aluminum billet processing fees were quoted at 160/280; in the Nanchang area, processing fees were quoted at 120/170, unchanged. (Unit: yuan/mt)