Spot aluminium trading thins in east China as spot discounts dip

Published: May 8, 2018 15:41

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The SHFE 1805 contract surged to a high of 14,660 yuan/mt on the morning of Tuesday May 8

SHANGHAI, May 8 (SMM) – Spot aluminium trading in east China weakened on Tuesday May 8 as spot discounts narrowed, SMM learned.

The SHFE 1805 contract surged to a high of 14,660 yuan/mt on the morning of Tuesday May 8.

In Shanghai, cargoes with May invoices mostly traded at 14,620-14,640 yuan/mt with discounts of 10-0 yuan/mt againt the SHFE 1805 contract.

Transactions in Wuxi and Hangzhou were heard at 14,630-14,640 yuan/mt and 14,660-14,670 yuan/mt, respectively.

Overall trading in east China weakened from the previous day as spot discounts narrowed. Smelters saw limited shipments while traders held back from purchases. Downstream consumers purchased only as required.

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