Active buying in aluminium market narrows spot discounts

Published: Feb 27, 2018 17:33

Save

Buying was active in the aluminium physical market on Tuesday February 27 with narrowing spot discounts, SMM learned.

SHANGHAI, Feb 27 (SMM) – Buying was active in the aluminium physical market on Tuesday February 27 with narrowing spot discounts, SMM learned.

In Shanghai and Wuxi, transactions were heard at 13,970-14,020 yuan/mt with spot discounts of 200-180 yuan/mt against the SHFE 1803 contract. Trades in Hangzhou were seen at 13,950-13,970 yuan/mt while those in Guangdong were seen at 14,040-14,090 yuan/mt.

Sellers were reluctant to let go many cargoes as major traders returned to the market sourcing actively after Chinese New Year, according to sources.

On aluminium rod, trading was thin in Guangdong as downstream customers would only be back from holiday around March 5. Treatment charges stayed firm at above 300 yuan/mt on low inventories.

For editorial queries, please contact Daisy Tseng at daisy@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn

aluminium spot discounts spot market Shanghai Guangdong

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

1 min ago

CPIA Predicts Slowdown in China's PV Installations by 2026, MIIT Aims to Tackle Industry Competition

The China Photovoltaic Industry Association (CPIA) predicts that China's new PV installations are expected to pull back in 2026, ranging between 180 GW and 240 GW. During the 15th Five-Year Plan period, the average annual new PV installations are projected to reach 238 GW to 287 GW. Wang Shijiang, Deputy Director of the Electronic Information Department at the Ministry of Industry and Information Technology (MIIT), emphasized that the core task this year is to address the cut-throat competition in the PV industry.

1 min ago

3 mins ago

Fed's Jefferson Expresses Cautious Optimism on US Economy, Sees Inflation Returning to 2% Target

US Fed Vice Chairman Jefferson expressed "cautious optimism" regarding the US economic outlook, suggesting that, driven by robust productivity growth, inflation is expected to pull back to the central bank's 2% target level. Additionally, Jefferson noted that the current policy stance is sufficient to effectively address economic developments.

3 mins ago

5 mins ago

Auto Trade-In Subsidies Boost Sales, Reaching 53.77 Billion Yuan with Higher Average Car Prices

According to big data from the commerce sector, as of February 5, a total of 335,000 subsidy applications had been received for the 2026 auto trade-in policy, effectively boosting new auto sales with a total value of 53.77 billion yuan. Further observation revealed that the average price of new cars involved in the trade-in activity in January exceeded the 160,000 yuan mark, showing a significant increase compared to the previous year.

5 mins ago