SMM May 21 report:
On May 21, SMM A00 aluminum was reported at 20,310 yuan/mt, up 100 yuan/mt from the previous trading day, with a +70 premium to the June contract, unchanged from the previous trading day. On May 21, SMM A00 aluminum (Foshan) was reported at 20,210 yuan/mt, up 110 yuan/mt, with a 30 yuan/mt discount to the current month, narrowing by 5 yuan/mt (unit: yuan/mt).
According to SMM statistics, on May 19, the aluminum billet inventory at major domestic consumption hubs was 131,600 mt, down 6,600 mt from the previous Thursday. With aluminum prices rising today, early morning quotes in the aluminum billet market on Wednesday were slightly lowered. Downstream demand was sluggish due to concerns over high prices. Suppliers further lowered their quotes during the trading session to realize cash, but transactions remained lackluster. Today, quotes in the Foshan aluminum billet market were 280/330 yuan/mt, down 20 yuan/mt. Processing fees in the Wuxi market were reported at 300/350 yuan/mt, down 10/30 yuan/mt. In the Nanchang region, processing fees were reported at 270/320 yuan/mt, unchanged. (Unit: yuan/mt)
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