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Home / Metal News / Guangdong-Shanghai aluminium spread widens to 80 yuan/mt

Guangdong-Shanghai aluminium spread widens to 80 yuan/mt

May 21, 2019 14:06

Source:SMM

Trades across eastern and southern markets both improved from the previous day

SHANGHAI, May 21 (SMM) – The price spread of spot aluminium in Guangdong and Shanghai widened to 80 yuan/mt in the morning of Tuesday May 21, from 60 yuan/mt on Monday morning.

Brisk transactions between traders boosted trades of spot aluminium across eastern and southern markets. Downstream consumers, however, remained cautious about procurement, even as prices fell for two consecutive trading days.

Trades in Shanghai occurred at 14,240-14,250 yuan/mt, down 35 yuan/mt from Monday morning. The spread relative to the front month June contract on the Shanghai Futures Exchange remained unchanged in a premium of up to 10 yuan/mt.

Spot aluminium traded at 14,320-14,330 yuan/mt in Guangdong this morning.

Spot deals occurred at 14,240-14,250 yuan/mt in Wuxi and 14,260-14,270 yuan/mt in Hangzhou this morning.

A major trader purchased more than 20,000 mt of spot cargoes in eastern markets.

Market commentary

Aluminium

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