[SMM midday review] East China Aluminum: middlemen receive positive downstream low part replenishment

Published: Oct 14, 2019 11:57

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SMM, 14 October:

Aluminum was concussive and slippery before noon of the month. Most of the spot transaction prices in Shanghai Wuxi market are between 1378013800 yuan / ton, and the price is about 10-30 yuan / ton. The price is nearly 180 yuan / ton lower than last Friday's price. Hangzhou price is 13800-13820 yuan / ton. It is understood that the price difference between the current month and the next month on Friday was around 80 yuan / ton, and today's monthly difference narrowed to 20 yuan / ton. As a result of certain expectations for the future rising water, the spot price fell by more than 100 yuan today. The middleman received the goods at the low level very actively. A large household received the goods normally, but the shippers shipped relatively few goods, and the overall performance was less and more, but the delivery was still OK. Considering that today's prices are more favorable than last Friday, downstream manufacturers have a small amount of replenishment today, but they still have a wait-and-see attitude towards future prices, so the overall downstream demand is mainly rigid. The overall transaction in East China is OK today.

(Xu Man 021-51595898)

Quotation aluminum ingots afternoon news

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