SHFE aluminium continued its upward trend, processing fees under pressure, overall trading moderate

On April 24, SMM A00 aluminium was quoted at RMB 19,980 per tonne, up RMB 70 per tonne from the previous trading day, with a premium of RMB 10 per tonne against the May contract, down RMB 10 per tonne from the previous trading day.

On April 24, SMM A00 aluminium (Foshan) was quoted at RMB 19,930 per tonne, up RMB 60 per tonne, with a discount of RMB 35 per tonne against the current month, widening by RMB 20 per tonne.

According to SMM statistics, on April 24, the inventory of aluminium billets in mainstream domestic consumption areas was 177,800 tonnes, a decrease of 18,900 tonnes from Monday. Today, aluminium prices maintained an upward trend, while processing fees showed slight pressure. Although there was some rigid demand for restocking before the holiday, downstream buyers mainly focused on driving down prices and slow procurement.

Some suppliers actively adjusted prices to promote transactions, and overall transactions were moderate. Today, the Foshan aluminium billet market was quoted at RMB 290/340 per tonne, down RMB 20 per tonne; the Wuxi market processing fee was quoted at RMB 280/350 per tonne, down RMB 20/0 per tonne; the Nanchang region processing fee was quoted at RMB 280/330 per tonne, down RMB 20 per tonne.

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.