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Home / Metal News / Spot aluminium discounts steady despite higher prices of futures

Spot aluminium discounts steady despite higher prices of futures

Apr 22, 2019 15:50

Source:SMM

Spot aluminium spreads in Shanghai held stable in a discount of up to 10 yuan/mt against the SHFE 1905 contract

SHANGHAI, Apr 22 (SMM) – Spot aluminium spreads in Shanghai held stable in a discount of up to 10 yuan/mt against the May contract on the Shanghai Futures Exchange on Monday even as prices of futures rose.

Spot trades in Shanghai occurred at 14,120-14,140 yuan/mt in Shanghai, up close to 90 yuan/mt from last Friday. Spot aluminium traded at 14,120-14,140 yuan/mt in Wuxi and 14,150-14,160 yuan/mt in Hangzhou.

Higher prices prompted sellers to offload stocks, but deterred downstream consumers from purchasing. Brisk transactions between traders saw brisk trading liquidity across eastern markets.

The southern markets saw similar trading activity on Monday. Spot aluminium trades occurred at 14,120 yuan/mt in Guangdong in early morning trades, and rose to 14,130 yuan/mt after prices of futures extended their gains.

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Aluminium

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