Review Of Major Spot Aluminum Markets In China

SHANGHAI, May 6 (SMM) – East China: The spot transactions were relatively thin on the first trading day after the holiday break. However, trades picked up on Friday as lower aluminium prices and tight supply drove buyers to purchase. The discounts of SMM A00 aluminium ingots turned from 10 yuan/mt into premiums of 10 yuan/mt over the 2305 contract.  

Gongyi: Downstream enterprises restocked as needed amid poor orders. However, due to the decline in SHFE aluminium prices, the discounts narrowed from 80 yuan/mt to 70 yuan/mt against SMM A00 aluminium prices in east China.

South China: Cargo arrivals increased and the overall transactions were moderate. Local spot prices maintained premiums of 110 yuan/mt over the 2305 contract.