SMM February 27 News:
On February 27, SMM A00 aluminum was quoted at 20,550 yuan/mt, up 20 yuan/mt, with a discount of 30 yuan/mt against the March contract, unchanged. On the same day, SMM A00 aluminum (Foshan) was quoted at 20,540 yuan/mt, up 20 yuan/mt, with a discount of 40 yuan/mt against the current-month contract, widening by 5 yuan/mt. (Unit: yuan/mt)
The aluminum billet inventory in major domestic consumption regions stood at 312,700 mt, down 8,000 mt from Monday. SHFE aluminum saw a slight increase today, with the futures market remaining in a consolidation phase, awaiting further direction. Aluminum billet processing fees lacked support to stand firm on quotes, while downstream demand was still insufficient due to bearish sentiment. Market transactions weakened compared to yesterday, and the market is still waiting for a potential strengthening in futures and spot prices during the "golden March and silver April" peak season. Today, Foshan aluminum billet processing fees were quoted at 160-210 yuan/mt, down 30 yuan/mt; Wuxi market processing fees were quoted at 180-230 yuan/mt, unchanged; Nanchang market processing fees were quoted at 180-230 yuan/mt, unchanged. (Unit: yuan/mt)
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