SHANGHAI, Mar 28 (SMM) – Trading was active in the physical market in east China but relatively thin in the Guangdong market on Wednesday March 28, SMM learned.
In Shanghai, Wuxi and Hangzhou, transactions were heard at 13,650-13,670 yuan/mt with spot discounts of 70-60 yuan/mt against the SHFE 1803 contract, while transactions in Guangdong were seen at 13,700-13,730 yuan/mt. The price gap between transactions in Shanghai and Guangdong grew to about 90 yuan/mt.
In Guangdong, sellers were keen to release cargoes given the significant price gap, with transactions expected at 13,720 yuan/mt.
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