Spot aluminium trades remain poor as downstream buyers yet to return from CNY-Shanghai Metals Market

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Spot aluminium trades remain poor as downstream buyers yet to return from CNY

Price Review & Forecast 01:51:51PM Feb 11, 2019 Source:SMM

SHANGHAI, Feb 11 (SMM) – Spot aluminium transactions remained poor across eastern and southern markets in China in the morning of the first trading day after the week-long Chinese New Year break, as downstream consumers have not returned from the holidays .

The front-month aluminium contract on the Shanghai Futures Exchange traded lower in the morning. Spot discounts in Shanghai were heard at 60-50 yuan/mt against the SHFE 1902 contract, compared to 30-20 yuan/mt in the morning of Friday February 1.

Spot transactions were heard at 13,260-13,280 yuan/mt in Shanghai and Wuxi and 13,270-13,290 yuan/mt in Hangzhou. Traded prices lost over 60 yuan/mt from Friday February 1.

Spot transactions occurred at 13,320 yuan/mt in Guangdong with the Guangdong-Shanghai spread at 50 yuan/mt.

Key Words:  Market commentary   Aluminium 

Price

more
Aluminum Ingot
Apr.24
14150.0
-50.0
(-0.35%)
Alumina (Averaged)
Apr.24
2705.0
10.0
(0.37%)
Alumina-East
Apr.24
2710.0
10.0
(0.37%)
Alumina -Central
Apr.24
2710.0
10.0
(0.37%)
Alumina - North
Apr.24
2700.0
10.0
(0.37%)

Spot aluminium trades remain poor as downstream buyers yet to return from CNY

Price Review & Forecast 01:51:51PM Feb 11, 2019 Source:SMM

SHANGHAI, Feb 11 (SMM) – Spot aluminium transactions remained poor across eastern and southern markets in China in the morning of the first trading day after the week-long Chinese New Year break, as downstream consumers have not returned from the holidays .

The front-month aluminium contract on the Shanghai Futures Exchange traded lower in the morning. Spot discounts in Shanghai were heard at 60-50 yuan/mt against the SHFE 1902 contract, compared to 30-20 yuan/mt in the morning of Friday February 1.

Spot transactions were heard at 13,260-13,280 yuan/mt in Shanghai and Wuxi and 13,270-13,290 yuan/mt in Hangzhou. Traded prices lost over 60 yuan/mt from Friday February 1.

Spot transactions occurred at 13,320 yuan/mt in Guangdong with the Guangdong-Shanghai spread at 50 yuan/mt.

Key Words:  Market commentary   Aluminium