SHANGHAI, Dec 4 (SMM) – Trades of spot aluminium remained brisk across east and south China on the morning of Tuesday Decmeber 4 after prices of futures posted a steep one-day gain at the start of the week.
The SHFE 1812 contract traded rangebound in the morning. In Shanghai, spot discounts were heard at 50-40 yuan/mt, compared to 60-50 yuan/mt in the previous day.
Most transactions occurred at 13,650-13,660 yuan/mt in Shanghai and Wuxi and at 13,680-13,700 yuan/mt in Hangzhou. Traded prices across eastern markets stood some 20 yuan/mt lower than yesterday.
Amid ample supplies across the markets, downstream consumers purchased on demand while trades between traders were active. Some traders held back from selling and made more purchases.
In Guangdong, most spot transactions occurred at 13,740-13,750 yuan/mt. A major aluminium trader made large purchases this morning, which fuelled trading enthusiasm among traders.