Weekend stockpiling improves spot aluminium trades

Published: May 31, 2019 13:32

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The premium over the SHFE 1906 contract came in at up to 10 yuan/mt

SHANGHAI, May 31 (SMM) – Spot aluminium trades across east and south China improved from previous days on the morning of Friday May 31, as downstream consumers stockpiled for the imminent weekend.

Prices stemmed their recent declines this morning, which also improved purchasing interest.

Traded prices in the Shanghai were mostly heard at 14,160-14,180 yuan/mt this morning, unchanged from Thursday morning. The premium over the SHFE 1906 contract stood at a maximum of 10 yuan/mt.

Spot deals occurred at 14,160-14,180 yuan/mt in Wuxi and 14,220-14,240 yuan/mt in Hangzhou this morning.

Spot aluminium traded at 14,230-14,250 yuan/mt in Guangdong this morning, with the spread with Shanghai prices barely changed at 80 yuan/mt.

Market commentary Aluminium

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