SHANGHAI, Aug 7 (SMM) – Trading in the spot aluminium market in south China remained sluggish on Tuesday August 7, but it was slightly better than the previous day, SMM learned.
The SHFE August contract edged lower in the morning. Most transactions in Guangdong were heard at 14,440-14,450 yuan/mt with the Guangdong-Shanghai price spread narrowed to 150 yuan/mt.
Sellers across the region remained keen to offload their cargoes while traders made some purchases and downstream consumers showed little buying interest.
Processing fees for aluminium billet in Guangdong extended their declines and the trading was lacklustre. Fees for 90 mm materials were at 420-460 yuan/mt, fees for 120 mm products at 400-440 yuan/mt, and fees for 150/178 mm at 350-400 yuan/mt.