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 to learn 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

5 hours ago

Geopolitical Conflicts Reshape Prebaked Anode Exports; SE Asia Demand Supports Full-Year Growth 【SMM Analysis】

Amid this structural adjustment in global regional demand, with gains in some markets offsetting declines in others, China’s prebaked anode exports can offset the pressure from weakening demand in traditional markets through market structure optimization and a shift in the center of orders. Coupled with its own capacity and supply chain advantages, China’s prebaked anode exports are expected to maintain a certain increase for the full year.

5 hours ago

Inventory fluctuated downward as increased warehouse withdrawals accelerated destocking, and recovering consumption drove processing fees back above parity [SMM Aluminum Billet Weekly Review]

During the week, as the geopolitical conflict in the Middle East continued to spread, market macro sentiment changed significantly, aluminum prices came under marked pressure and fell noticeably, while aluminum billet processing fees recovered to trade above parity.

5 hours ago

Impact of Hormuz Blockade on China's Aluminum Wire and Cable Exports to the Middle East [SMM Analysis]

Based on China’s 2025 aluminum wire and cable export data to the Middle East, Saudi Arabia was the largest export destination in the region, with annual exports of 9,426.752 mt, accounting for 31.88 of the Middle East total

5 hours ago