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[SMM midday review] East China Aluminum: the spot supply is tight and less than the spot rising water continues to rise
Oct 17,2019 12:08CST
translation
Source:SMM
[SMM midday review] East China Aluminum: the spot supply is tight and less than the spot rising water continues to rise
The content below was translated by Tencent automatically for reference.

SMM, 17 October:

Aluminum period of the month before noon to maintain the interval shock. In the morning, due to the tight supply of goods in circulation, the shippers did not ship much, and the market quotation was chaotic, concentrated in the range of 13960-13990 yuan / ton, but there were not many transactions, and most traders had to wait and see. A large household received the goods in a small amount at the price of 13950 yuan / ton in the morning. After 10:30, the market transaction price was stable at 13970-13990 yuan / ton. The rising water was 60-80 yuan / ton, and the rising water was nearly 40 yuan / ton higher than yesterday. Absolute prices rose around 90 yuan / ton from yesterday, and large households subsequently raised their quotations but did not fill their planned purchases. The price in Hangzhou area is between 13980-13990 yuan / ton, the transaction is general. In the later period of high prices in Shanghai and tin, the shipments of the shippers increased, but the willingness to offer was strong, the middlemen were willing to receive the goods, and the two sides traded actively. Today SMM statistics of the country's mainstream consumption of electrolytic aluminum inventory month-on-month fell by more than 60, 000 tons, the market is expected to continue to go to the warehouse, the market supply becomes tight, receiving goods in the past two days is very positive, and some traders feedback at the end of the month to upgrade the national VAT system will affect the issue of the current month ticket, because the invoice and long order delivery considerations, tend to pay close attention to the purchase of the month ticket goods. Downstream manufacturers today on-demand goods, and traders downstream bulk cargo is not much, mostly delivered to other traders transactions or downstream long orders. The overall transaction in East China is better today.

(Xu Man 021-51595898)

 

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