Spot aluminium discounts flip into premiums ahead of delivery

Published: Nov 13, 2018 13:51

Save

Most transactions were heard between discounts of 10 yuan/mt to premiums of 20 yuan/mt relative to the SHFE 1811 contract

SHANGHAI, Nov 13 (SMM) – Most transactions of spot aluminium in Shanghai were heard between discounts of 10 yuan/mt to premiums of 20 yuan/mt relative to the SHFE 1811 contract on Tuesday as the November delivery approaches.

The SHFE aluminium contract for November delivery traded rangebound in the morning. Most transactions in Shanghai occurred with discounts of up to 10 yuan/mt from the previous day.

Traded prices were heard at 13,720-13,740 yuan/mt in Shanghai and Wuxi and 13,730-13,750 yuan/mt in Hangzhou.

Transactions between traders were brisk. Overall trading liquidity across eastern markets improved from the previous day as sellers remained keen to offload cargoes and as downstream consumers were keen to purchase.

Market commentary Aluminium

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

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

Related News

1 hour ago

Geopolitical Conflicts Reshape Prebaked Anode Exports; SE Asia Demand Supports Full-Year Growth 【SMM Analysis】

Amid this structural adjustment in global regional demand, with gains in some markets offsetting declines in others, China’s prebaked anode exports can offset the pressure from weakening demand in traditional markets through market structure optimization and a shift in the center of orders. Coupled with its own capacity and supply chain advantages, China’s prebaked anode exports are expected to maintain a certain increase for the full year.

1 hour ago

Inventory fluctuated downward as increased warehouse withdrawals accelerated destocking, and recovering consumption drove processing fees back above parity [SMM Aluminum Billet Weekly Review]

During the week, as the geopolitical conflict in the Middle East continued to spread, market macro sentiment changed significantly, aluminum prices came under marked pressure and fell noticeably, while aluminum billet processing fees recovered to trade above parity.

1 hour ago

Impact of Hormuz Blockade on China's Aluminum Wire and Cable Exports to the Middle East [SMM Analysis]

Based on China’s 2025 aluminum wire and cable export data to the Middle East, Saudi Arabia was the largest export destination in the region, with annual exports of 9,426.752 mt, accounting for 31.88 of the Middle East total

1 hour ago