Aluminium price decline improves buying interest among downstream consumers

Published: Dec 6, 2018 16:14

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In Shanghai, spot discounts were heard at 30-20 yuan/mt, narrower than 50-40 yuan/mt in the previous day

SHANGHAI, Dec 6 (SMM) – Purchasing enthusiasm among aluminium downstream consumers across east-China spot markets improved from the previous day during Thursday morning trades as prices of aluminium fell, SMM research found.

The SHFE December contract slid on Thursday morning. In Shanghai, spot discounts were heard at 30-20 yuan/mt against the SHFE 1812 contract, narrower than 50-40 yuan/mt in the previous day.

Spot transactions were mostly done at 13,550-13,570 yuan/mt in Shanghai and Wuxi and 13,600-13,620 yuan/mt in Hangzhou. The prices were over 90 yuan/mt lower than the prior day.

Despite losses in prices, sellers in eastern markets remained willing to let their cargoes ago and transactions between traders continued to be brisk.

In Guangdong, most transactions were heard at 13,650-13,670 yuan/mt with the Guangdong-Shanghai spreads widened to 100 yuan/mt. In southern markets, sellers held back from selling today while traders and downstream consumers were keen to make purchases.

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.

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