Higher aluminium prices encourage spot traders to sell-Shanghai Metals Market

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Higher aluminium prices encourage spot traders to sell

Price Review & Forecast 01:50:37PM Apr 10, 2019 Source:SMM

SHANGHAI, Apr 10 (SMM) – Spot aluminium traders in east and south China were keen to offload their cargoes on Wednesday morning as prices rose.

The April aluminium contract on the Shanghai Futures Exchange extended overnight gains in morning trades.

In Shanghai, spot aluminium mostly traded at 13,810-13,820 yuan/mt, up over 50 yuan/mt from Tuesday morning. Traded prices this morning were almost flat with the SHFE 1904 contract, versus premiums of up to 10 yuan/mt in the previous morning.

Spot deals mostly occurred at 13,810-13,820 yuan/mt in Wuxi and 13,830-13,850 yuan/mt in Hangzhou this morning.

In Guangdong, spot aluminium mostly traded at 13,800-13,810 yuan/mt this morning.

Despite robust selling inclination among traders, spot aluminium trades across eastern and southern markets failed to improve as higher prices sidelined buyers.

Key Words:  Market commentary   Aluminium 

Higher aluminium prices encourage spot traders to sell

Price Review & Forecast 01:50:37PM Apr 10, 2019 Source:SMM

SHANGHAI, Apr 10 (SMM) – Spot aluminium traders in east and south China were keen to offload their cargoes on Wednesday morning as prices rose.

The April aluminium contract on the Shanghai Futures Exchange extended overnight gains in morning trades.

In Shanghai, spot aluminium mostly traded at 13,810-13,820 yuan/mt, up over 50 yuan/mt from Tuesday morning. Traded prices this morning were almost flat with the SHFE 1904 contract, versus premiums of up to 10 yuan/mt in the previous morning.

Spot deals mostly occurred at 13,810-13,820 yuan/mt in Wuxi and 13,830-13,850 yuan/mt in Hangzhou this morning.

In Guangdong, spot aluminium mostly traded at 13,800-13,810 yuan/mt this morning.

Despite robust selling inclination among traders, spot aluminium trades across eastern and southern markets failed to improve as higher prices sidelined buyers.

Key Words:  Market commentary   Aluminium