SMM

According to SMM, on March 20, the inventory of aluminum billets in major domestic consumption areas was 288,000 mt, down 9,500 mt WoW. SHFE aluminum bottomed out today, with processing fees plummeting sharply. Suppliers of aluminum billets were eager to offload their stocks at high prices, and purchasing sentiment from the demand side eased somewhat, though still focused on price suppression. Market transactions showed some improvement. Today, the processing fees for aluminum billets in Foshan were reported at 130/180, down 60; in Wuxi, they were 180/250, down 100; and in Nanchang, they were 120/170, down 100. (Unit: yuan/mt)