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

Published: Aug 16, 2017 15:11

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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.

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