Central China Market Sees Mixed Trading Sentiment, Next Month Invoices Down 100-120 Yuan/mt vs SHFE Aluminum
Today, trading sentiment in the central China market was mediocre. Monday happened to be the first day for cargoes with invoices dated next month. Downstream processing enterprises' buying sentiment was not high, with only a few enterprises maintaining rigid demand and making small purchases. Suppliers were not strongly willing to hold prices firm, and quotes showed a downward trend. Meanwhile, transactions for cargoes with invoices dated this month were relatively active, with traders short of such invoices trading a large volume of them. However, against the backdrop of an overall shortage of such invoices in the market, quotes stayed high. Finally, the actual transaction price range for cargoes with invoices dated next month in the central China market settled around a discount of 100-120 yuan/mt against the SHFE aluminum August contract.