SHANGHAI, Feb 12 (SMM) – Spot aluminium transactions across eastern and southern markets in China picked up from the previous day, on Tuesday February 12 as deals between traders improved.
Overall spot aluminium transactions remained poor as downstream purchases stayed at lows.
The front-month aluminium contract on the Shanghai Futures Exchange traded rangebound on Tuesday morning. Spot discounts in Shanghai were heard at 50 yuan/mt against the SHFE 1902 contract earlier in the morning, before it fell to 40-30 yuan/mt.
Spot transactions occurred at 13,270-13,290 yuan/mt in Shanghai, Wuxi and Hangzhou, up from the previous morning.
Spot transactions occurred at 13,320 yuan/mt in Guangdong with a smaller Guangdong-Shanghai price spread of 40 yuan/mt.
SMM learned that most aluminium processing plants in Guangdong would resume from February 14.