Weekend stockpiling spurs trading in China’s aluminium spot market

Published: May 4, 2018 14:55

Save

Aluminium spot trading across east and south China was brisk on the morning of Friday May 4 as downstream consumers stockpiled for the upcoming weekend, SMM learned.

SHANGHAI, May 4 (SMM) – Aluminium spot trading across east and south China was brisk on the morning of Friday May 4 as downstream consumers stockpiled for the upcoming weekend, SMM learned.

The SHFE 1805 contract closed 40 yuan/mt higher at 14,530 yuan/mt in the morning session.

For cargoes with May invoices, transactions in Shanghai were mostly heard at 14,450-14,470 yuan/mt with discounts at 60-50 yuan/mt against the SHFE 1805 contract. Transactions in Wuxi and Hangzhou were done at 14,450-14,470 yuan/mt and 14,470-14,490 yuan/mt, respectively. Despite sufficient supplies, prices stayed firm as traders maintained their active buying as the previous day. Downstream consumers stockpiled for the weekend. The overall trading in east China was brisk.

Meanwhile, the Guangdong market also saw active trading. Aluminium producers were keen to offload their cargoes, while downstream consumers actively stockpiled for the weekend. Cargoes with May invoices mostly traded at 14,510-14,520 yuan/mt with a Guangdong-Shanghai price spread of about 50 yuan/mt.

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 discount spot premium

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 for 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

10 mins ago

Haiyang West-Gaoshang Section of Yantai-Weihai UHV Transmission Line Completed

On July 10, the Haiyang West-Gaoshang section of the Shandong Yantai-Weihai UHV transmission line project was completed. It is reported that the Yantai-Weihai UHV transmission line project starts at the 1000 kV Haiyang West substation and ends at the 10 kV Gaoxiang substation.The newly built line is 2 × 260.116 kilometers, with 914 towers, passing through 11 counties (districts) in Yantai, Qingdao, Weifang, Rizhao, and Linyi. The line crosses 9 high-speed railways, 18 electrified railways, and 389 10 kV or higher power lines.

10 mins ago

23 mins ago

Fed Chairman Warsh Affirms Zero-Tolerance on Inflation in Congressional Testimony

Fed Chairman Kevin Warsh made his first congressional testimony since taking office, with the two-day testimony and Q&A sessions covering multiple areas of high market interest. Warsh noted that the June CPI and PPI data showed signs of improvement, but he also stressed that inflation indicators cannot fully and accurately reflect underlying inflation conditions. Warsh expressed a clear zero-tolerance stance on inflation and firmly committed to restoring price stability. Although he did not explicitly indicate a tightening of monetary policy, he mentioned that measures to curb inflation include the option of adjusting interest rates.

23 mins ago

25 mins ago

China's Power and ESS Battery Sales Surge 49.1% YoY in June, Reaching 196 GWh

According to data released by the China Automotive Power Battery Industry Innovation Alliance, in June, China's total sales of power and ESS batteries reached 196 GWh, up 49.1% YoY. Specifically, power battery sales were 133.4 GWh, up 41.8% YoY, while ESS battery sales were 62.6 GWh, up 67.5% YoY.

25 mins ago