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[SMM afternoon Review] East China Aluminum: the market expects more middlemen to receive goods.
Jul 31,2019 11:52CST
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Source:SMM
[SMM afternoon Review] East China Aluminum: the market expects more middlemen to receive goods.
The content below was translated by Tencent automatically for reference.

SMM, July 31 / PRNewswire-Asianet /-

Aluminium futures fell in the first trading phase of the month, followed by a rebound in lows. In the morning, the spot price of aluminum ingots in Wuxi and Shanghai was between 13900 and 13910 yuan / ton, about 10 yuan / ton on the flat surface, about 10 yuan / ton higher than yesterday, and the aluminum rose at the end of 11:00. The market price gradually concentrated around 13910 to 13920 yuan / ton, and the price on the plate was flat-up 10 yuan / ton, and the price in Hangzhou was between 13910 and 13930 yuan / ton. Today, a large company does not have a procurement plan on the wire, but the trading between the traders themselves is still active. It is understood that although the price has risen slightly, but the holder has not further actively shipped, on the contrary, it is part of the middleman who is expected to improve in the future. Today, the delivery of goods is more positive, making the market transaction price performance strong, but at the same time, some middlemen believe that there are uncertain factors during the Sino-US trade negotiations, so there is no big move in and out today. Downstream today is still mainly on-demand procurement, traders feedback, due to the end of the month, downstream in the context of high market prices or due to settlement factors, there is no large number of purchases. The overall transaction in East China today was all right.

(Xu Man 021 51595898)

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