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Home / Metal News / Traders drive aluminium spot trading in east China

Traders drive aluminium spot trading in east China

iconMay 3, 2018 15:52
Source:SMM
China's aluminium spot market saw more active trading in Shanghai, Hangzhou, and Wuxi on Thursday May 3 as traders were eager to stockpile. Transactions in Guangdong were flat

SHANGHAI, May 3 (SMM) – China's aluminium spot market saw more active trading in Shanghai, Hangzhou, and Wuxi on Thursday May 3 as traders were eager to stockpile. Transactions in Guangdong were flat due to sluggish downstream demand, SMM learned.

For cargoes with May invoices, transactions in Shanghai were mostly heard at 14,400-14,410 yuan/mt with discounts of 50-40 yuan/mt against the 1805 contract. This compared with discounts of 30-20 yuan/mt on the previous day.

Transactions in Wuxi and Hangzhou were mostly heard at 14,400-14,410 yuan/mt and 14,420-14,440 yuan/mt, respectively. Most transactions came from traders. Downstream demand remained at low levels.

Guangdong saw relatively quieter trading as adequate supplies held back buyers. Cargoes with May invoices mostly traded at 14,440-14,450 yuan/mt with a Guangdong-Shanghai price spread of 40 yuan/mt. 

 

For editorial queries, please contact Daisy Tseng at daisy@smm.cn 
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aluminium
spot market
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

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