SMM February 26 News: Aluminum Ingot: On February 26, SMM A00 aluminum (Foshan) was quoted at 23,520-23,580 yuan/mt, with an average price of 23,550 yuan/mt, up 100 yuan/mt, at a discount of 145 yuan against the front-month contract. Aluminum prices rose but the spot market was under pressure. Suppliers' attempts to hold prices firm in the morning were unsuccessful, and they were forced to lower their quotes due to the dual pressures of inventory buildup and rising prices, expanding the discount range to -90~0 yuan/mt, with ample supply of circulating goods. Downstream demand is still in the early stages of recovery, showing weak willingness to rush to buy amid continuous price rise. Traders only push for lower prices and purchase as needed, leading to overall oversupply. In the later part, heightened volatility in futures prices resulted in a situation where there were prices but no transactions. Aluminum Billet: On February 26, the average price of SMM 6063 grade aluminum billet (Guangdong) Φ90/100 was 160 yuan/mt, and the average price for Φ120 and above specifications was 110 yuan/mt, unchanged from yesterday. The increase in base prices led to a divergence in processing fees, with a significant difference between high and low prices. The downstream demand recovery was slow, and purchasing remained sluggish. The decline in futures prices further intensified the wait-and-see sentiment in the market. Some merchants lowered their quotes to hit bottom, resulting in difficult overall transactions, with weak demand being the core constraining factor.

SMM February 24 news: Aluminum ingot: On February 24, SMM A00 aluminum (Foshan) was quoted at 23,470 yuan/mt, up 260 yuan/mt, at a discount of 55 yuan against the front-month contract. Prices rose on the first day after the holiday, with suppliers holding back sales to hold prices firm. However, as the market was still in the early stages of resuming operations, downstream users and traders showed weak restocking interest. Spot follow-up was insufficient, with few high-priced deals accepted, and overall transactions were sluggish. Aluminum billet: On February 24, the average processing fees for SMM 6063 aluminum billets (Guangdong) were 180 yuan/mt for Φ90/100 specifications and 130 yuan/mt for Φ120 and above. Processing fees remained high. Downstream operations had not fully resumed, and purchasing was mainly characterized by pushing for lower prices through inquiries. Manufacturers offered small concessions, but market activity was sluggish.

SHFE aluminum opened higher before went down in night trading, but mainly fluctuated in a narrow range in early trading.

SHFE aluminum prices were weak overnight, but rose in early trading.

SHFE aluminum opened slightly higher overnight. In early trading, it was driven by news of an accident at an aluminum smelter in the north.