SMM News on July 3:
On July 3, SMM A00 aluminum was reported at 20,860 yuan/mt, up 50 yuan/mt from the previous trading day, with a -10 discount to the July contract, narrowing by 20 yuan/mt from the previous trading day. On the same day, SMM A00 aluminum (Foshan) was reported at 20,790 yuan/mt, up 60 yuan/mt, with an 80 yuan/mt discount to the current month, expanding by 10 yuan/mt (unit: yuan/mt).
According to SMM statistics, on July 3, the aluminum billet inventory at major domestic consumption areas was 153,500 mt, an increase of 6,000 mt from the previous Monday and 11,000 mt from last Thursday. Today, aluminum prices continue to strengthen, while the aluminum billet market is in a dire state. With a lack of downstream orders during the off-season, demand is exceptionally sluggish. Against the backdrop of negative processing fees, the initial market processing fees are still being lowered. Downstream buyers are generally driving down prices significantly. Under the heavy pressure of inventory and capital, suppliers are forced to lower their quotes. Negative processing fees continue to be reported in the Foshan and Nanchang regions, with overall transactions being dismal. As of July 3, 2025, the aluminum billet market in the Foshan region was reported at -30/20 yuan/mt, down 20 yuan/mt; the aluminum billet processing fees in the Wuxi region were reported at 70/140 yuan/mt, down 40 yuan/mt; and the processing fees in the Nanchang region were reported at -90/-40 yuan/mt, down 40 yuan/mt (unit: yuan/mt).
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