SMM, February 24:
On February 24, SMM A00 aluminum was quoted at 20,590 yuan/mt, down 230 yuan, with a discount of 70 yuan to the March contract, unchanged. On the same day, SMM A00 aluminum (Foshan) was quoted at 20,580 yuan/mt, down 230 yuan, with a discount of 75 yuan to the current-month contract, unchanged. (Unit: yuan/mt)
Regarding aluminum billet inventory, the inventory in major domestic consumption regions stood at 320,700 mt, an increase of 5,400 mt WoW. SHFE aluminum prices saw a significant pullback from high levels today, with aluminum prices fluctuating downward. Aluminum billet processing fees slightly increased; however, downstream sentiment remained bearish, focusing mainly on price suppression for immediate demand. At the beginning of the week, some suppliers adopted a wait-and-see approach, but after lowering initial quotations, certain transactions were achieved. Overall, trading sentiment remained subdued. Today, aluminum billet processing fees in the Foshan market were quoted at 150–200 yuan/mt, up 80 yuan; in the Wuxi market, fees were quoted at 180–230 yuan/mt, up 80 yuan; and in the Nanchang region, fees were quoted at 200–250 yuan/mt, up 130 yuan. (Unit: yuan/mt)
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