[SMM midday review] East China Aluminum: spot rising more than 100 actual transaction performance deadlock

SMM, 23 Oct:

Aluminum in the current month before noon to maintain a narrow range of shocks. Shanghai Wuxi market spot quotation concentrated in 13940-13960 yuan / ton, spot price increased by 20 yuan / ton compared with yesterday, the price rose 90-110 yuan / ton, next month and the monthly ticket price difference of less than 20 yuan / ton, Hangzhou area spot price of 13950-13960 yuan / ton. Today, the holders are relatively high prices, shipments are not much, and middlemen still show a positive willingness to receive goods, under the circumstances of less and more spot rising water continues to rise, and even reached around 110 yuan / ton (the last time the water rose more than 100 this year was the VAT reform at the end of March). The rising spot water is mainly due to the tight supply of electrolytic aluminum inventory in the market under the background of continuing to go to the warehouse, and the VAT system will be shut down at the end of the month, and there will be a shortage of invoices at the end of the month. This has further strengthened the mentality of the cardholders in cherishing the sale. Today, the trading stalemate between the buyers and sellers of the traders is mediocre. Downstream manufacturers today on-demand goods, but under the background of high water fear is obvious, the willingness to receive goods is not strong. The overall transaction in East China was normal today.

(Xu Man 021-51595898)