Extended gains in spot aluminium prices further improve trades in east China

SHANGHAI, Jun 20 (SMM) – Spot aluminium trades in east China further improved on the morning of Thursday June 20, as traders remained active after prices rose for two days in a row.

Downstream consumers across eastern markets, however, continued to stand on the sidelines.

Traded prices in Shanghai were mostly heard at 13,890-13,910 yuan/mt this morning, up 20 yuan/mt from Wednesday morning. This created a premium of a maximum of 20 yuan/mt over the SHFE 1907 contract. A large trader made a tiny few transactions at 13,920 yuan/mt,

Deals occurred at 13,900-13,920 yuan/mt in Wuxi and 13,940-13,960 yuan/mt in Hangzhou this morning.

Trades across the southern markets remained brisk this morning, even as traders slightly held back from making purchases.

Spot aluminium was mostly traded at 13,970-13,980 yuan/mt in Guangdong this morning, with the spread with Shanghai prices unchanged at 70 yuan/mt.