Aluminium trading picks up as downstream buyers step up procurement-Shanghai Metals Market

Hot Keywords

  • Zinc
  • MMi Iron Ore Port Index
  • Nickel
  • Aluminium
  • Inventory data
  • Futures movement
  • trend forecast
  • Rare earths
  • Evening comments
  • Wanbao Minerals
  • Stainless steel spot
  • Macroeconomics
  • Copper
  • price
  • SMM brief review

Aluminium trading picks up as downstream buyers step up procurement

Price Review & Forecast 04:52:01PM May 10, 2018 Source:SMM

SHANGHAI, May 10 (SMM) – Overall trading across spot aluminium markets in east and south China turned active on Thursday May 10 as downstream consumers stepped up procurement, SMM learned.

The SHFE 1805 contract rose to a high of 14,545 yuan/mt from a low of 14,500 yuan/mt in the morning.

In east China, cargoes with May invoices mostly traded at 14,500-14,520 yuan/mt with discounts of 20-10 yuan/mt against the SHFE 1805 contract. Transactions in Wuxi and Hangzhou were heard at 14,500-14,520 yuan/mt and 14,520-14,540 yuan/mt, respectively.

While traders purchased cautiously, downstream consumers purchased more actively than the previous day, which bolstered the trading activity slightly.

In Guangdong, most transactions of cargoes with May invoices were heard at 14,510-14,540 yuan/mt with Guangdong-Shanghai price spread at around 20 yuan/mt.

Downstream consumers purchased actively for the upcoming weekend, with one buyer procuring over 4,000 mt today amid ample supplies. Overall trading in south China was brisk.

 


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 trading picks up as downstream buyers step up procurement

Price Review & Forecast 04:52:01PM May 10, 2018 Source:SMM

SHANGHAI, May 10 (SMM) – Overall trading across spot aluminium markets in east and south China turned active on Thursday May 10 as downstream consumers stepped up procurement, SMM learned.

The SHFE 1805 contract rose to a high of 14,545 yuan/mt from a low of 14,500 yuan/mt in the morning.

In east China, cargoes with May invoices mostly traded at 14,500-14,520 yuan/mt with discounts of 20-10 yuan/mt against the SHFE 1805 contract. Transactions in Wuxi and Hangzhou were heard at 14,500-14,520 yuan/mt and 14,520-14,540 yuan/mt, respectively.

While traders purchased cautiously, downstream consumers purchased more actively than the previous day, which bolstered the trading activity slightly.

In Guangdong, most transactions of cargoes with May invoices were heard at 14,510-14,540 yuan/mt with Guangdong-Shanghai price spread at around 20 yuan/mt.

Downstream consumers purchased actively for the upcoming weekend, with one buyer procuring over 4,000 mt today amid ample supplies. Overall trading in south China was brisk.

 


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