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[SMM afternoon Review] East China Aluminum: spot prices rose sharply in the morning, followed by a decline in transaction activity.
Jul 15,2019 11:58CST
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Source:SMM
[SMM afternoon Review] East China Aluminum: spot prices rose sharply in the morning, followed by a decline in transaction activity.
The content below was translated by Tencent automatically for reference.

SMM, July 15 / PRNewswire-Asianet /-

Aluminum trading in the early period of the month to interval shock-based, the second trading phase of the rise. In the morning, the transaction price between Shanghai and Wuxi was between 13800 yuan and 13820 yuan / ton, between 10 yuan and 10 yuan / ton for that month, up nearly 80 yuan / ton from Friday. With the rise of aluminium futures, the market quotation began to be confused, concentrated between 13830 and 13850 yuan / ton, and between 10 yuan / ton and 10 yuan / ton for the current month, up more than 100 yuan from Friday. In the morning, the supply of goods in the market is sufficient, the holder is actively shipping, driven by the rhythm of receiving more than 10,000 tons of goods, the market transaction is active, the middleman trading is also active, the spot price rises sharply after 11: 00, the market transaction activity drops obviously, because the market is close to the moon change and the market is expected to rise discount in the future, the holder is slightly higher, although the receiver is many but more afraid of high, the transaction performance of both buyers and sellers is deadlocked at this time. There are some replenishment today after the return of the downstream weekend, and it is OK to receive the goods. Today, the overall transaction in East China is better.

(Xu Man 021 51595898)

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