SHANGHAI, Jul 25 (SMM) – While some traders in east and south China made purchases, spot aluminium trading across the two regions remained weak on Wednesday July 25 as poor orders and high prices deterred downstream consumers, SMM learned.
A major aluminium processor in the south also made some purchases today.
The SHFE August contract traded weakly rangebound in the morning. Spot discounts were mostly heard at 90-80 yuan/mt against the August contract. Most transactions were done at 14,200-14,220 yuan/mt in Shanghai and Wuxi and at 14,220-14,230 yuan/mt in Hangzhou.
Meanwhile, transactions in Guangdong were mostly done at 14,340-14,350 yuan/mt with Guangdong-Shanghai price spread unchanged at 130 yuan/mt.
Billet processing fees changed little. 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.