On February 13, SMM A00 aluminium closed at RMB 20,510 per tonne, down RMB 30 per tonne, with a discount of RMB 30 per tonne against the February contract flat.
The Henan-Shanghai price spread was RMB 140 per tonne, up RMB 10 per tonne. SMM Central China closed at RMB 20,370 per tonne, down RMB 20 per tonne. On February 13, SMM A00 aluminium (Foshan) closed at RMB 20,530 per tonne, down RMB 20 per tonne, with a discount of RMB 10 per tonne against the current month and RMB 20 per tonne against the next month.
According to SMM statistics, the aluminium billet inventory in major domestic consumption areas stood at 300,400 tonnes, an increase of 5,900 tonnes compared to Monday. Around the Lantern Festival, downstream resumed production in an orderly manner after the holiday, and the inventory buildup, especially in East China, has shown signs of slowing down.
However, aluminium prices continued to retreat from high levels today. Although transactions slightly improved, there were more sellers in the market, and sentiment was weak, making it difficult to stand firm on quotes.Â
Today, the Foshan aluminium billet market quoted RMB 150-200 per tonne, flat; the Wuxi market processing fee was quoted at RMB 180-230 per tonne, up RMB 30 per tonne; the Nanchang region processing fee was quoted at RMB 170-220 per tonne, up RMB 20 per tonne.
Source: SMM
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