SMM News on June 13:
On June 13, SMM A00 aluminum was quoted at 20,730 yuan/mt, up 80 yuan/mt from the previous trading day, with a -210 yuan/mt discount to the 06 contract, down 280 yuan/mt from the previous trading day.
According to SMM statistics, in terms of domestic aluminum billet inventory in two locations, the inventory of aluminum billet in Guangdong was 55,000 mt, and the inventory of aluminum billet in Wuxi was 20,800 mt, totaling 75,800 mt, up 600 mt MoM. Today, aluminum prices remained high. To cash in at elevated levels, suppliers significantly reduced their quotes in the aluminum billet market on Friday. Faced with the continuously rising base price, downstream buyers adopted a wait-and-see attitude, and buying sentiment hit rock bottom. Suppliers further lowered their quotes during the trading session. In some regions, the phenomenon of "negative processing fees" even emerged for aluminum billet. Market competition was fierce, and overall trading volume was unsatisfactory, with only some special-type aluminum billets seeing slight trading volume. Today, the quotes for aluminum billet in the Foshan market were 130/180 yuan/mt, down 50 yuan/mt; the processing fees in the Wuxi market were quoted at 100/170 yuan/mt, down 100 yuan/mt; and the processing fees in the Nanchang region were quoted at 0/50 yuan/mt, down 80 yuan/mt. (Unit: yuan/mt)
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