SHANGHAI, Jun 19 (SMM) – Spot aluminium trades in east China improved from the previous day on the morning of Wednesday June 19, driven by active traders after prices of futures rose on US-China trade optimism.
Overall trades across eastern markets, however, were capped as downstream buyers remained on the sidelines.
Traded prices in Shanghai were mostly heard at 13,870-13,890 yuan/mt this morning, up 30-50 yuan/mt from Tuesday morning. This slightly widened the premium over the SHFE 1907 contract from a maximum of 10 yuan/mt to 10-20 yuan/mt.
Deals occurred at 13,880-13,900 yuan/mt in Wuxi and 13,900-13,910 yuan/mt in Hangzhou this morning.
Trades across the southern markets remained brisk this morning.
Spot aluminium was mostly traded at 13,950-13,970 yuan/mt in Guangdong this morning, with the spread with Shanghai prices narrowed to 70 yuan/mt.