SHANGHAI, May 7 (SMM) – Spot aluminium trades in east China held stable on the morning of Tuesday May 7 as barely changed prices kept downstream consumers on the sidelines.
Spot trades in Shanghai this morning were heard at 14,040-14,060 yuan/mt, marginally down 10 yuan/mt from Monday morning. Price spreads relative to the SHFE 1905 contract slightly narrowed to a premium of 10-20 yuan/mt.
Deals were done at 14,040-14,060 yuan/mt in Wuxi and 14,060-14,080 yuan/mt in Hangzhou this morning.
Despite brisk trades between traders, purchasing enthusiasm among downstream buyers did not improve, and overall trades across eastern markets remained normal.
Across southern markets, sellers were keen to hold offers firm, while downstream consumers purchased on demand.
Spot aluminium trades occurred at 14,040-14,050 yuan/mt in Guangdong, similar to prices in Shanghai.