SHANGHAI, Apr 19 (SMM) – China's aluminium spot market traded briskly on Thursday April 19 as brokers and downstream consumers were keen to purchase, SMM learned.
The prices of aluminium futures surged in the morning. In Shanghai, most transactions were heard at 15,080-15,160 yuan/mt with spot discounts at 60-50 yuan/mt against the 1805 contract. Transactions in Wuxi and Hangzhou were seen at 15,070-15,150 yuan/mt and 15,080-15,170 yuan/mt, respectively.
In Guangdong, most transactions were heard at 15,080-15,170 yuan/mt. The price gap between Guangdong and Shanghai turned to around 10 yuan/mt.
Cargo holders were slightly reluctant to let their cargoes go today amid bullish sentiment. Traders were relatively keen to offload cargoes and took significant profits when there were hedging opportunities.
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