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Home / Metal News / East China spot aluminium trades improve as major trader makes large purchase

East China spot aluminium trades improve as major trader makes large purchase

May 8, 2019 13:45

Source:SMM

Spot trades in Shanghai this morning were heard at 14,070-14,080 yuan/mt, up 25 yuan/mt from Tuesday morning

SHANGHAI, May 8 (SMM) – Spot aluminium trades in east China improved on the morning of Wednesday May 8 as a major trader made a purchase of more than 10,000 mt.

Downstream consumers across eastern markets, however, remained cautious, even as prices inched up.

Spot trades in Shanghai this morning were heard at 14,070-14,080 yuan/mt, up 25 yuan/mt from Tuesday morning. Price spreads relative to the SHFE 1905 contract widened to a premium of 20-30 yuan/mt, from a premium of 10-20 yuan/mt in the previous morning.

Deals occurred at 14,070-14,080 yuan/mt in Wuxi and 14,080-14,100 yuan/mt in Hangzhou in morning trade.

Across southern markets, trades held stable compared to Tuesday morning, as trading enthusiasm among traders barely changed and as downstream consumers continued to purchase on demand.

Spot aluminium trades occurred around 14,080 yuan/mt in Guangdong.

Market commentary

Aluminium

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