SHANGHAI, Aug 6 (SMM) – The spot aluminium market in south China saw thin trades on Monday August 6 as tepid orders eroded purchasing interests across downstream consumers, SMM learned.
The SHFE August contract edged down in the morning. Most transactions in Guangdong were heard at 14,450-14,460 yuan/mt with the Guangdong-Shanghai price spread at 170 yuan/mt.
Poor trades lowered processing fees for aluminium billet in Guangdong. Fees for 90 mm were at 450-490 yuan/mt with fees for 120 mm at 420-480 yuan/mt and fees for 150/178 mm at 350-400 yuan/mt.
Trading in the east performed better while sellers held their offers firm. Spot discounts were heard at 50-40 yuan/mt against the SHFE August contract. Transactions were done at 14,280-14,290 yuan/mt in Shanghai and Wuxi and at 14,290-14,310 yuan/mt in Hangzhou.