Non-ferrous

Non-ferrous

Base Metals

Rare Earth

Scrap Metals

Minor Metals

Precious Metals

Ferrous Metals

Ferrous Metals

Iron Ore Index Iron Ore Price Finished Steel Coke Coal Pig Iron Silicon Steel

New Energy

New Energy

Solar Lithium Cobalt Ternary Precursor and Material Anode Materials Chemical Compound Lithium-ion Battery Used Lithium-ion Battery Sodium-ion Battery Hydrogen Energy Energy Storage

Dashboard DatabasePro Reports Events Consulting

Home / Metal News / Lower aluminium prices sideline eastern spot buyers

Lower aluminium prices sideline eastern spot buyers

Nov 28, 2018 16:13

Source:SMM

Spot discounts in Shanghai were heard at 40-30 yuan/mt against the SHFE 1812 contract

SHANGHAI, Nov 28 (SMM) – Downstream consumers across east-China spot aluminium markets took a wait-and-watch stance on Wednesday morning as prices of futures fell for the third consecutive trading day.

The SHFE 1812 contract slid in morning trades. Spot discounts in Shanghai were heard at 40-30 yuan/mt against the SHFE 1812 contract, compared to 50-40 yuan/mt in the previous day. Most spot transactions occurred at 13,620-13,640 yuan/mt in Shanghai and Wuxi and 13,660-13,680 yuan/mt in Hangzhou.

Across eastern markets, sellers were keen to offload cargoes while transactions between traders were brisk.

Most transactions were heard at 13,670-13,690 yuan/mt in Guangdong with the spreads with Shanghai at 50 yuan/mt.

Sellers in Guangdong remained unwilling to let their cargoes go. The Aluminum Corporation of China Limited (Chalco) made purchases today, which improved overall trading activity in Guangdong from the start of the week.

Market commentary

Aluminium

For queries, please contact Michael Jiang at michaeljiang@smm.cn

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

Related news

SMM Morning Comments (Jul 23): Shanghai base metals were mostly higher on dovish ECB comments

Shanghai base metals mostly cruised higher on Friday morning amid dovish comments from European Central Bank. Meanwhile, their counterparts on the LME traded mixed.

time

Jul 23, 2021 10:00

SMM Morning Comments (Jul 23): Shanghai base metals were mostly higher on dovish ECB comments

SMM Evening Comments (Jul 19): Shanghai nonferrous metals ended mixed as investors monitored virus and digested OPEC deal

SHFE nonferrous metals closed mixed on Monday July 19 as markets digested the latest OPEC + announcement regarding oil production, and continued to brood on inflation and rising Covid-19 cases.

time

Jul 19, 2021 18:00

SMM Evening Comments (Jul 19): Shanghai nonferrous metals ended mixed as investors monitored virus and digested OPEC deal

NDRC: To further release copper, aluminium, and zinc reserves, strictly penalise price bidding

NDRC will continue to follow the deployment of the executive meeting of the State Council, work with relevant departments to strengthen the monitoring and forecast of commodity prices, organise subsequent release of copper, aluminium, zinc and other national reserves, and pay close attention to abnormal market price fluctuations.

time

Jul 19, 2021 16:36

NDRC: To further release copper, aluminium, and zinc reserves, strictly penalise price bidding

SMM Evening Comments (Jul 16): Shanghai nonferrous metals rose across the board amid wider power curtailment

SHFE nonferrous metals all went up today as China’s power curtailment expanded to many regions, and US expectation of interest rate hikes intensified.

time

Jul 16, 2021 18:37

SMM Evening Comments (Jul 16): Shanghai nonferrous metals rose across the board amid wider power curtailment

SMM Morning Comments (Jul 15): Shanghai base metals were mixed as traders digested inflation data, Fed comments

Shanghai base metals traded mixed on Thursday morning as traders reacted to hotter-than-expected US and UK inflation figures and comments from Fed Chairman Jerome Powell. Meanwhile, their counterparts on the LME fell for the most part.

time

Jul 15, 2021 10:00

SMM Morning Comments (Jul 15): Shanghai base metals were mixed as traders digested inflation data, Fed comments

SMM Morning Comments (Jul 12): Shanghai base metals rose across the board as investors watched regional Covid situation

Shanghai base metals advanced across the board on Monday morning as investors continued to monitor the Covid situation regionally. Meanwhile, their counterparts on the LME also rose for the most part.

time

Jul 12, 2021 10:00

SMM Morning Comments (Jul 12): Shanghai base metals rose across the board as investors watched regional Covid situation

SMM Evening Comments (Jul 9): Shanghai nonferrous metals closed mixed, lead fell 0.79

SHFE nonferrous metals, except for copper and lead, all went up today, amid the shrinking increase in China’s CPI and PPI. Nickel rose 2.61% to lead the gains, aluminium increased 0.32%, zinc went up 0.58%, and tin advanced 1.38%, while copper fell 0.14% and lead shed 0.79%.

time

Jul 9, 2021 18:45

SMM Evening Comments (Jul 9): Shanghai nonferrous metals closed mixed, lead fell 0.79

SMM Evening Comments (Jul 5): Shanghai nonferrous metals rose across the board, aluminium advanced 2.97%

SHFE nonferrous metals broadly closed higher across the board on Monday July 5.

time

Jul 5, 2021 18:00

SMM Evening Comments (Jul 5): Shanghai nonferrous metals rose across the board, aluminium advanced 2.97%

SMM Morning Comments (Jun 30): Shanghai base metals rose across the board as global investors looked to US jobs data

Shanghai base metals were mostly higher on Wednesday morning as global investors monitored the spread of the delta Covid-19 variant and awaited key economic data out of the US. Meanwhile, their counterparts on the LME also rose for the most part.

time

Jun 30, 2021 10:00

SMM Morning Comments (Jun 30): Shanghai base metals rose across the board as global investors looked to US jobs data

SMM Morning Comments (Jun 29): Shanghai base metals were mixed as investors monitored rising Covid-19 cases around the globe

Shanghai base metals mostly cruised lower on Tuesday morning despite gains overnight on Wall Street that saw the S&P 500 and Nasdaq Composite touching fresh record closing highs. Meanwhile, their counterparts on the LME traded mixed.

time

Jun 29, 2021 10:00

SMM Morning Comments (Jun 29): Shanghai base metals were mixed as investors monitored rising Covid-19 cases around the globe

SMM Events & Webinars

Oct
09
- NET ZERO EUROPE - Solar & Energy Storage Summit
  Oct 09 - 10,2024
  THE EGG BRUSSELS, BELGIUM
Oct
08
- 2nd Li-ion Battery Europe 2024
  Oct 08 - 10,2024
  THE EGG BRUSSELS, BELGIUM
Jun
24
- 2024 Global Renewable Metal Industry Chain Summit
  Jun 24 - 25,2024
  To foster international cooperation and dialogue among industry colleagues
  Kuala Lumpur , Malaysia

MOST POPULAR

1.Research On The Supply Chain Of Aluminum Anti-collision Beams For Automobiles

2.Aluminum Wire Supplier Screening

3.Cost Analysis Of AL Extrusion For Target Units

4.Research On The Sustainable Development Layout Of Key Players(Foil, Roll, Plate)

5.Optimization Of Purchasing Cost For Casting Alloys

Shanghai Metals Market

Privacy Policy Compliance Centre SMM Credit Service Contact Us About Us Terms & Conditions Sitemap

Notice: By accessing this site you agree that you will not copy or reproduce any part of its contents (including, but not limited to, single prices, graphs or news content) in any form or for any purpose whatsoever without the prior written consent of the publisher.

Drop us a line

service.en@smm.cn

How can we help you?

+86 021 5155-0306

Live chat via WhatsApp

Copyright © 2024 SMM Information & Technology Co., Ltd. All rights reserved.