Lower spot aluminium prices sideline downstream consumers-Shanghai Metals Market

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Lower spot aluminium prices sideline downstream consumers

Price Review & Forecast 04:04:54PM May 23, 2018 Source:SMM

SHANGHAI, May 23 (SMM) – Traded prices of spot aluminium in east and south China lost about 100 yuan/mt on Wednesday May 23, compared to the previous day, SMM learned. Volatile prices deterred downstream consumers from purchasing.

The SHFE 1806 contract fell to a low of 14,525 yuan/mt in the morning.

In east China, transactions in Shanghai were mostly heard at 14,490-14,500 yuan/mt with discounts of 80-70 yuan/mt against the SHFE 1806 contract. Transactions in Wuxi and Hangzhou were done at 14,490-14,500 yuan/mt and 14,500-14,520 yuan/mt, respectively. While there were more transactions than yesterday, overall trading turned thin as downstream consumers took on a watch-and-wait stance.

In Guangdong, transactions were mostly heard at 14,500-14,520 yuan/mt with Guangdong-Shanghai price spreads at about 10 yuan/mt. Despite relatively limited deliveries, sellers remained keen to offload their cargoes.Volatile prices of aluminium also kept downstream consumers in Guangdong on the sidelines.

 


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

Lower spot aluminium prices sideline downstream consumers

Price Review & Forecast 04:04:54PM May 23, 2018 Source:SMM

SHANGHAI, May 23 (SMM) – Traded prices of spot aluminium in east and south China lost about 100 yuan/mt on Wednesday May 23, compared to the previous day, SMM learned. Volatile prices deterred downstream consumers from purchasing.

The SHFE 1806 contract fell to a low of 14,525 yuan/mt in the morning.

In east China, transactions in Shanghai were mostly heard at 14,490-14,500 yuan/mt with discounts of 80-70 yuan/mt against the SHFE 1806 contract. Transactions in Wuxi and Hangzhou were done at 14,490-14,500 yuan/mt and 14,500-14,520 yuan/mt, respectively. While there were more transactions than yesterday, overall trading turned thin as downstream consumers took on a watch-and-wait stance.

In Guangdong, transactions were mostly heard at 14,500-14,520 yuan/mt with Guangdong-Shanghai price spreads at about 10 yuan/mt. Despite relatively limited deliveries, sellers remained keen to offload their cargoes.Volatile prices of aluminium also kept downstream consumers in Guangdong on the sidelines.

 


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