East China spot aluminium trades briskly despite higher prices_SMM

Compliance Centre Products About Us Contact Us

English

English 中文

News

Non-ferrous

Base metals

Minor metals

Precious metals

Scrap metals

Rare earth

Steel

Coke Iron Ore Pig Iron Finished Steel Stainless Steel

New Energy

Cobalt Lithium Ternary Precursor and Material Chemical compound

Price News Publication Database Events Consulting

Publication Database Events Consulting SMM APP Compliance Centre About Us SMM Credit Service Contact Us What We Do?

Home / Metal News / Aluminium / East China spot aluminium trades briskly despite higher prices

East China spot aluminium trades briskly despite higher prices

Aug 29,2018 13:53

CST

price review forecast

Source:SMM

Most transactions in Shanghai were heard at 14,820-14,840 yuan/mt with discounts of 70-50 yuan/mt against the Sept contract

SHANGHAI, Aug 29 (SMM) – Spot aluminium traded briskly in east China on Wednesday August 29 even as prices surged, SMM learned.

High prices deterred downstream consumers from purchases.

The SHFE September contract traded rangebound in the morning after its overnight gain.

Most transactions in Shanghai were heard at 14,820-14,840 yuan/mt with discounts of 70-50 yuan/mt against the September contract. Wuxi and Hangzhou saw transactions at 14,820-14,840 yuan/mt.

Trades in the south were less brisk. While traders remained bullish on prices, they were keen to lower prices when making purchases. High prices also deterred downstream consumers in south China.

Most transactions in Guangdong were heard at 14,640-14,660 yuan/mt a the Guangdong-Shanghai price spread of 120 yuan/mt.

Processing fees for aluminium billet in Guangdong changed little. Fees for 90 mm were heard at 300-340 yuan/mt with those for 110/120 mm at 280-320 yuan/mt and those for 150/178 mm at 280-320 yuan/mt.

Market commentary

Aluminium

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

The China Solid Waste and Chemicals Management Bureau, a unit of the Ministry of Ecology and Environment, granted import allowances for 10,423 mt of high-grade copper scrap to 14 companies in the latest release, bringing the cumulative quotas for this year to 540,184 mt.

May 19, 2020 10:25 timezone

CST

industry news

China issued 7th batch of metals scrap import quotas for 2020

Jiangsu Tafel began construction of 6GWh/year power battery project

Jiangsu Tafel New Energy Technology on May 17 kicked off construction of its phase II and III capacity of a power battery project, which is located at the Jiangning Development Zone, Nanjing.

May 18, 2020 11:21 timezone

CST

company news

Jiangsu Tafel began construction of 6GWh/year power battery project

Medium-to-heavy rare earth prices to hold firm on improved enquiries

Prices of most light and medium-to-heavy rare earth oxides increased last week as sellers firmed up offers on active enquiries by downstream consumers. SMM expects the improvement in enquiries to continue to support prices of medium-to-heavy rare earth oxides this week, while prices of light rare earth, such as praseodymium-neodymium oxide, will likely pull back as the strength of demand may unable to sustain a price rally.

May 18, 2020 11:03 timezone

CST

price review & forecast

Medium-to-heavy rare earth prices to hold firm on improved enquiries

SMM Evening Comments (Apr 3): Shanghai base metals higher across the board on stimulus hope

SHFE nonferrous metals rose across the board on Friday, as market sentiment was rallied after China’s Ministry of Finance pledged to make an early allocation of the special-purpose bond quotas for transportation infrastructure construction.

Apr 3, 2020 19:05 timezone

CST

price review & forecast

SMM Evening Comments (Apr 3): Shanghai base metals higher across the board on stimulus hope

Disrupted wood charcoal imports likely delay resumption of silicon plants in wet season

Chinese silicon plants may face difficulties to resume production as scheduled in the wet season starting from June as the global widespread COVID-19 has disrupted the supply chain and led to a shortage of raw material wood charcoal. SMM learned that most silicon plants have conducted maintenance and tried to secure feedstock for the preparation of resumption.

Apr 3, 2020 11:01 timezone

CST

smm insight

Disrupted wood charcoal imports likely delay resumption of silicon plants in wet season

SMM Evening Comments (Apr 2): Shanghai base metals mixed on Thursday, copper advanced on oil price rally

Crude oil prices jumped on Thursday, following their biggest-ever quarterly losses, as US President Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their oil price war.

Apr 2, 2020 19:16 timezone

CST

price review & forecast

SMM Evening Comments (Apr 2): Shanghai base metals mixed on Thursday, copper advanced on oil price rally

Lower inventories at end-March unlikely to reverse stainless steel fundamentals

Social inventories of stainless steel in China showed signed of declines at end-March, after the stocks hit the highest level on record last month. However, downstream demand has yet to recover sufficiently to support a sustained slide in the inventories, which may threaten lingering inventory pressure in April that will keep stainless steel prices under pressure.

Apr 2, 2020 11:27 timezone

CST

smm insight

Lower inventories at end-March unlikely to reverse stainless steel fundamentals

Vietnam lockdown to add pressure on China’s aluminium exports

The impact from the coronavirus pandemic on China’s aluminium exports is mounting as greater part of the world comes under lockdown to stop the spread of the virus. On Wednesday, Vietnam, a major buyer of Chinese aluminium, entered into a 15-day period of nationwide isolation. Residents are required to stay at home and can only go outside for “essential needs,” such as food, medicines, urgent medical services or to go to work at companies permitted by the government to remain open.

Apr 1, 2020 14:43 timezone

CST

smm insight

Vietnam lockdown to add pressure on China’s aluminium exports

SMM Morning Comments (Apr 1): Shanghai base metals opened mostly higher after Beijing pledged more stimulus

Shanghai base metals opened mostly higher on Wednesday morning, as Beijing said that it will roll out a set of fiscal and financial policies to expand domestic demand, assist businesses reopening, sustain employment, and help all types of businesses to weather this difficult time.

Apr 1, 2020 09:52 timezone

CST

price review & forecast

SMM Morning Comments (Apr 1): Shanghai base metals opened mostly higher after Beijing pledged more stimulus

Spot copper premiums moved higher with futures prices amid brisk trades

Trades in the spot copper market in Shanghai were active with spot premiums rising on the morning of March 31 as upbeat data on China’s manufacturing activities improved market sentiment and led to...

Mar 31, 2020 14:10 timezone

CST

price review & forecast

Related news