East China spot aluminium trades weaken amid tepid purchases by downstream buyers

Published: Jun 24, 2019 13:33

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Shanghai premium over the SHFE 1907 contract unchanged at a maximum of 10 yuan/mt

SHANGHAI, Jun 24 (SMM) – Spot aluminium trades in east China weakened from Friday at the start of the new week, as downstream consumers showed little buying interest after returning from the weekend.

Trades in the south remained brisk, as traders across eastern and southern markets were keen to make purchases this morning after spot prices followed futures lower.

Spot aluminium was traded between 13,820-13,840 yuan/mt in Shanghai on the morning of Monday June 24, down 40 yuan/mt from Friday morning. The premium over the July contract on the Shanghai Futures Exchange unchanged at a maximum of 10 yuan/mt.

Deals occurred at 13,830-13,850 yuan/mt in Wuxi and 13,860-13,880 yuan/mt in Hangzhou this morning.

Spot aluminium was mostly traded at 13,890-13,900 yuan/mt in Guangdong this morning, with the spread with Shanghai prices unchanged at 70 yuan/mt.

Market commentary Aluminium

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