[SMM afternoon Review] East China Aluminum: middlemen are more willing to receive goods when spot prices fall by more than 100 percent.

Published: Jul 2, 2019 11:51

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SMM, July 2 / PRNewswire-Asianet /-

Aluminum period of the month before noon to maintain the range concussion. The spot price in Shanghai is between 13630 and 13650 yuan / ton, and the price is between 20 yuan / ton and 13690 yuan / ton, which is 100 yuan lower than yesterday's price. Wuxi spot price is between 13640 and 13660 yuan / ton, and Hangzhou price is between 13670 and 13690 yuan / ton. Today's spot aluminum price fell more than 100% compared with yesterday, the holder's willingness to ship converges, cherish the price, low price middlemen to receive goods significantly increased, today's market performance, the actual transaction slightly stalemate. Downstream manufacturers are still purchasing on demand today, which is not sensitive to the sharp fall in prices, or suggests that downstream consumption is indeed showing signs of weakening. The overall transaction in East China today is slightly worse than that of yesterday.

(Xu Man 021 51595898)

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