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[SMM midday review] East China Aluminum: merchants settled in advance at the end of the month and the situation has not changed.
Oct 22,2019 11:48CST
translation
Source:SMM
[SMM midday review] East China Aluminum: merchants settled in advance at the end of the month and the situation has not changed.
The content below was translated by Tencent automatically for reference.

SMM, 22 Oct:

Aluminum period of the month before noon to maintain the interval shock. The monthly quotation in Shanghai Wuxi market is between 13920-13940 yuan / ton, the spot price is 40 yuan / ton lower than yesterday, the price difference between next month and that month is less than 20 yuan / ton, and the spot price in Hangzhou is 13930-13950 yuan / ton. As a result of the upgrading of the VAT system in Wuxi, Shanghai, which began on the 25th of the month, most traders need to settle in advance, the invoice issued that month is slightly deficient, the holder's willingness to ship is not strong, and the shipment is further converged after 11: 00. although middlemen have a strong willingness to receive goods, it is more difficult to conclude transactions, and spot prices maintain a high level of rising water. Downstream manufacturers today a small number of goods, some downstream although there is a willingness to receive goods, but in view of the above invoice problems, the holder does not ship much, the actual transaction is not much. On the whole, the overall transaction in East China today is OK, although there is a slight stalemate, but it is mainly affected by short-term financial settlement factors.

(Xu Man 021-51595898)

 

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