SHFE Aluminum Slump Hurts Trading in South China Market, SMM Reports

Published: Aug 22, 2017 14:58

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SHFE 1709 aluminum plunged after opening on Tuesday, ending at 16,265 yuan/tonne before lunchtime.

SHANGHAI, Aug. 22 (SMM) – SHFE 1709 aluminum plunged after opening on Tuesday, ending at 16,265 yuan/tonne before lunchtime.

IAI: Primary Aluminum Daily Output outside China Unchanged in July, But Falls in China

Suppliers in Guangdong became unwilling to sell after both spot and futures prices fell back. Some traders entered the market to stockpile goods, while downstream producers showed low buying interest.

Industry Insiders Bullish over Base Metals in H2 2017

Mainstream traded prices were 16,100-16,120 yuan/tonne in Guangdong, premium of 50 yuan/tonne over Shanghai.

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