SHANGHAI, Jul 4 (SMM) – Spot aluminium trades across east and south China improved in the morning of Thursday July 4, driven by brisk trades among traders after prices gained.
Higher prices, however, weakened purchases by downstream consumers.
As spot prices followed futures higher, traded prices were heard at 13,740-13,760 yuan/mt in Shanghai and Wuxi, up 90 yuan/mt from Wednesday morning. This created a premium of 10-20 yuan/mt over the July contract on the Shanghai Futures Exchange.
Trades mostly occurred at 13,790-13,800 yuan/mt in Hangzhou. A major trader purchased close to 8,000 mt in eastern markets this morning.
For the southern markets, traded prices of spot aluminium were heard at 13,800-13,820 yuan/mt in Guangdong, with the spread with Shanghai prices at 60 yuan/mt.