On April 30, SMM A00 aluminium was quoted at RMB 20,060 per tonne, up RMB 40 per tonne from the previous trading day, with a discount of RMB 10 per tonne against the May contract, down RMB 10 per tonne from the previous trading day. On April 30, SMM A00 aluminium (Foshan) was quoted at RMB 19,980 per tonne, up RMB 40 per tonne, with a discount of RMB 90 per tonne against the current-month contract, widening by RMB 15 per tonne.
Image for representational purposes only
According to SMM statistics, on April 30, the inventory of aluminium billets in major domestic consumption areas was 151,000 tonnes, a decrease of 11,600 tonnes from the previous Monday. This morning, the most-traded SHFE aluminium contract continued to hover around the RMB 20,000 per tonne mark.
As the Labour Day holiday approached, suppliers held firm on their processing fee quotes. Suppliers in South China intended to accelerate their sales pace and simultaneously lowered their processing fees. In the Nanchang area of east China, processing fees remained stable as downstream buyers continued to purchase based on immediate needs. However, due to it being the day before the Labour Day holiday, trading sentiment was somewhat lacklustre.
Today, the processing fees in the Foshan aluminium billet market were quoted at RMB 320/370 per tonne, down RMB 10 per tonne. In the Wuxi market, processing fees were quoted at RMB 350/450 per tonne, unchanged. In the Nanchang area, processing fees were quoted at RMB 400/450 per tonne, unchanged.
Note: This article has been issued by SMM and has been published by AL Circle with its original information without any modifications or edits to the core subject/data.
Responses
