Trading Brisk in Spot Market as SHFE Aluminum Rally Fuels Bullishness, SMM Reports

Published: Aug 16, 2017 15:11

Save

Trading activity turned active in both east and south China markets today as traders entered out of bullishness after SHFE aluminum’s big rally.

SHANGHAI, Aug. 16 (SMM) – Trading activity turned active in both east and south China markets today as traders entered out of bullishness after SHFE aluminum’s big rally.

Aluminum Bulls Watch Out: Crazy Speculations Mask Poor Market Fundamentals, SMM Warns
SHFE 1709 aluminum surged to around 16,000 yuan/tonne shortly after opening.

Massive Output Cuts Not Enough to Reverse Oversupply in China Aluminum Market, SMM Says
Downstream producers bought mainly as needed. Mainstream traded prices were 15,810-15,840 yuan/tonne in Guangdong, versus 15,750-15,760 yuan/tonne in Shanghai.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

aluminum prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

6 hours ago

SHFE Aluminum Edged Up After Halting Its Decline, Spot Aluminum Stabilized and Improved [SMM South China Spot Aluminum Daily Review]

6 hours ago

7 hours ago

SHFE Cast Aluminum Alloy Warrants Drop by 2,047 mt to 42,944 mt on March 24

[SMM Flash News] SHFE data showed that as of March 24, the total registered volume of cast aluminum alloy warrants was 42,944 mt, a decrease of 2,047 mt from the previous trading day. By region, the total registered volume was Shanghai (2,755 mt, down 422 mt), Guangdong (17,257 mt, down 210 mt), Jiangsu (4,209 mt, down 813 mt), Zhejiang (13,672 mt, down 483 mt), Chongqing (3,723 mt, down 119 mt), and Sichuan (1,327 mt, increase 0 mt).

7 hours ago

What Could Change if Middle East Aluminum Trade Reroutes—and Supply Becomes Substitutable

Strait of Hormuz disruptions and Iran tensions are driving up aluminum prices and premiums. Aluminium Bahrain and Qatalum have cut output, while feedstock is tight. Rerouting via Port of Sohar or Saudi ports raises costs and delays. Buyers are turning to China, India, Russia, Canada, and scrap to offset risk. Prolonged disruption could reduce Middle East market share and reprice it as higher-risk supply.

7 hours ago