SMM January 8 news:
In South China's aluminum ingot market, on January 8, SMM A00 aluminum (Foshan) was quoted at 24,040 yuan/mt, down 90 yuan for the day, at a discount of 110 yuan against the front-month contract. Against the backdrop of no inventory increase, suppliers showed strong willingness to restore the low spot-futures price spread, with offers stabilizing at a premium of 10-40 yuan, and circulation remained tight. Traders actively competed for goods, large buyers raised prices for purchases, and downstream buyers restocked as needed, creating a "market without price" situation in the morning session; later, futures prices plummeted, suppliers lowered offers to as low as a 270-yuan discount, buyer wait-and-see sentiment intensified, transactions weakened, and spot transaction prices ranged from 23,770 to 24,080 yuan.
In South China's aluminum billet market, on January 8, the processing fees for various specifications of SMM 6063 aluminum billet (Guangdong) briefly turned positive before falling back into discount, with the average for Φ90/100 at -90 yuan and for Φ120 and above at -140 yuan. After the base price dipped slightly, a sharp decline in futures prices triggered downstream bearish sentiment, leading to strong willingness to push for lower prices in purchases. Suppliers were forced to lower offers with volume discounts, overall market transactions were sluggish, and processing fees for all specifications remained in discount territory.
