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[SMM midday review] East China Aluminum: spot absolute Price rising middlemen's enthusiasm for receiving goods has not diminished
Oct 16,2019 12:00CST
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Source:SMM
[SMM midday review] East China Aluminum: spot absolute Price rising middlemen's enthusiasm for receiving goods has not diminished
The content below was translated by Tencent automatically for reference.

SMM, 16 October:

Aluminum floats before noon that month. The spot transaction prices of the two places in Shanghai Wuxi market are mostly concentrated in the range of 1388013900 yuan / ton, the price is about 30-40 yuan / ton, the price is nearly 100 yuan higher than yesterday, and the price in Hangzhou is 13900-13910 yuan / ton. Aluminum futures rose more today, pre-sale holders today significantly increased their shipping enthusiasm, while middlemen did not reduce their enthusiasm for receiving goods. Some traders think that the spot market is too tight and have certain expectations for aluminum prices and rising water in the short term. As a result, the receiving of goods is more active, and the trading between buyers and sellers is active. Due to the sharp rise in aluminum prices, some of the downstream goods on demand today, but there are also a small number of traders feedback that a small number of manufacturers have been buying goods because of the early price wait-and-see, and now little inventory consumption has to start receiving goods. On the whole, the overall transaction in East China today is good.

(Xu Man 021-51595898)

 

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