Strong prices of futures drive trading in China’s spot aluminium market-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • Air pollution
  • Macroeconomics
  • Production data
  • Futures movement
  • Zinc
  • Aluminium
  • hydrogenation stations
  • Nickel
  • Copper
  • Market commentary
  • nickel laterite
  • In the United States
  • Morning comments
  • Nickel ore

Strong prices of futures drive trading in China’s spot aluminium market

Price Review & Forecast 04:24:39PM Apr 19, 2018 Source:SMM

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.

 


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 

Strong prices of futures drive trading in China’s spot aluminium market

Price Review & Forecast 04:24:39PM Apr 19, 2018 Source:SMM

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.

 


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