SHANGHAI, Nov 16 (SMM) – Spot aluminium premiums in Shanghai widened on Friday as traders made brisk transactions, SMM research found.
The SHFE 1812 contract climbed in the second session of morning after trading rangebound in the first session.
In Shanghai, spot premiums were heard at 30-40 yuan/mt over the SHFE 1812 contract, compared to 20-30 yuan/mt in the previous day. Most transactions were done at 13,660-13,670 yuan/mt in Shanghai and Wuxi and 13,670-13,690 yuan/mt in Hangzhou.
In Guangdong, most transactions were heard at 13,740-13,760 yuan/mt, and the price spreads with the Shanghai market stood at 90 yuan/mt.
In south and east China, trades among traders remained brisk while purchasing enthusiasm among downstream consumers waned from the previous day.
Billet processing fees were heard at 460-500 yuan/mt for 90mm and 440-480 yuan/mt for 110/120 mm and 150/178 mm in Guangdong.