SMM January 9 News:
On January 9, SMM A00 aluminum closed at 19,670 yuan/mt, up 30 yuan, with a discount of 30 yuan to the 01 contract, flat. The price spread between Henan and Shanghai was -40 yuan, up 20 yuan. SMM central China closed at 19,630 yuan/mt, up 50 yuan. On January 9, SMM A00 aluminum (Foshan) closed at 19,710 yuan/mt, down 10 yuan, with a premium of 10 yuan to the current month, narrowing by 40 yuan. (Unit: yuan/mt)
Aluminum billet spot market: As downstream profile manufacturers are set to begin their holidays next week (January 14/15), weakening demand has become inevitable. Today, the domestic aluminum billet market overall still showed a volume discount trend. By region, due to the rebound in the futures market, transactions in the south China market were slightly better than yesterday, and processing fees stabilized at 230-280 yuan/mt, flat. After the futures market rose, the east China market remained cautious on the purchasing side, with insufficient downstream rigid demand. Overall transactions were moderate, with Wuxi quoted at 350-400 yuan/mt, down 10 yuan. The Nanchang market showed weaker transactions, quoted at 370-420 yuan/mt, down 40 yuan. (Unit: yuan/mt)
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