Tight supplies drive south China purchases in spot aluminium

Published: Jun 6, 2018 13:53

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Traders in the spot aluminium market in south China were keen to purchase cargoes on Wednesday June 6 as the Guangdong-Shanghai price spread widened on tight supplies in Guangdong

SHANGHAI, Jun 6 (SMM) – Traders in the spot aluminium market in south China were keen to purchase cargoes on Wednesday June 6 as the Guangdong-Shanghai price spread widened on tight supplies in Guangdong, SMM learned.

Limited arrivals also exacerbated the shortage of supplies. The Guangdong-Shanghai price spread stood at over 100 yuan/mt on Wednesday, compared to some 50 yuan/mt at the end of May.

The rising SHFE 1806 contract in the morning also fuelled traders’ purchasing enthusiasm. Overall trading in south China was brisk with most transactions done at 14,760-14,770 yuan/mt.

Transactions in Shanghai were mostly heard at 14,630-14,660 yuan/mt with discounts of 50-40 yuan/mt against the SHFE 1806 contract. In Wuxi and Hangzhou, transactions were done at 14,630-14,660 yuan/mt and 14,660-14,670 yuan/mt, respectively. East China also saw active trades overall as traders were keen to purchase.

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