SHANGHAI, Jul 24 (SMM) – Sellers in the east China spot aluminium market slightly stepped back from offloading cargoes on Tuesday July 24 as spot discounts widened, SMM learned.
Spot discounts in the east were mostly heard at 90-80 yuan/mt against the SHFE August contract, compared to 80-60 yuan/mt in the previous day. Most transactions were done at 14,110-14,230 yuan/mt in Shanghai and Wuxi and 14,120-14,140 yuan/mt in Hangzhou.
Trading in the east remained thin as traders and downstream consumers adopted a wait-and-watch stance.
Trades in the south were also lacklustre as high aluminium prices deterred downstream buyers.
Transactions in Guangdong were mostly heard at 14,240-14,250 yuan/mt with a Guangdong-Shanghai price spread of 130 yuan/mt.
Processing fees for billet in the south held steady. Traded fees for the 90mm were at 500-540 yuan/mt, fees for the 120 mm at 450-500 yuan/mt and fees for the 150/178 mm at 360-400 yuan/mt.