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

Published: Jul 02, 2019 11:51 (GMT+8)

Save

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)

"Click to view SMM historical price data

Quotations aluminum ingots noon news

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

35 mins ago

August aluminum plate/sheet and strip exports pull back at a narrower pace MoM, with Mexico overtaking the US as the top destination [SMM Analysis]

[SMM Analysis: August Aluminum Plate/Sheet and Strip Exports Pull Back MoM at a Narrower Pace, Mexico Takes Over from US as Top Destination] Customs data shows that China's aluminum plate/sheet and strip exports totaled 31.19 mt in August 2026, down 3.3% MoM (a decrease of 1.07 mt from 322,700 mt in July) and up 17.7% YoY. This marks the second consecutive monthly pullback following the 9.0% MoM decline in July, but the pace of decline has narrowed significantly, with overall exports still running above the historical high plateau.

35 mins ago

1 hour ago

Aluminum Inventory Plummets Before 2026 National Day, Dropping 118,000 Tonnes in Two Weeks

[SMM Aluminum Inventory Statistics] According to SMM statistics, changes in aluminum inventory at major domestic consumption sites before and after the National Day holiday from 2020 to 2026: in 2026, aluminum ingot inventory fell sharply for two consecutive weeks before the holiday, down 63,000 tonnes on September 17 and down 55,000 tonnes on September 24, the steepest decline for the same period in previous years.

1 hour ago

Nanchang Aluminum Billet Prices Steady, SMM A00 Spot at RMB 24,240/t

On September 24, Nanchang aluminum billet Φ90 was quoted at RMB 24,440/t, with processing fee at RMB 200/t (flat from the previous trading day); Φ120 at RMB 24,340/t, with processing fee at RMB 100/t (flat); Φ178 at RMB 24,340/t, with processing fee at RMB 100/t (flat). SMM A00 aluminum spot stood at RMB 24,240/t.

1 hour ago