Non-ferrous
Non-ferrous
Base Metals
Rare Earth
Scrap Metals
Minor Metals
Precious Metals
New Energy
Price CenterDatabaseProReportsEventsCar Insight
Language: 
Spot aluminium prices hit 14,000 yuan/mt ahead of VAT system upgrading
The premium over the SHFE 1911 contract remained unchanged at 90-110 yuan/mt
SHANGHAI, Oct 24 (SMM) – Aluminium prices in Shanghai spot market hit 14,000 yuan/mt on Thursday, as futures rose overnight and as supply tightened ahead of the upgrading of value-added tax system in east China.
The front-month aluminium contract on the Shanghai Futures Exchange for November delivery held in a tight range in morning trades, after a moderate gain overnight.
With an unchanged premium of 90-110 yuan/mt over the SHFE 1911 contract, spot trades were done at 13,980-14,000 yuan/mt in Shanghai in the morning, up 50 yuan/mt from a day earlier.
Spot aluminium was quoted at 13,990-14,010 yuan/mt in Wuxi and Hangzhou.
East China will upgrade its VAT system on Friday, suspending operations related to invoices. This has tightened supply across the spot markets.
In southern markets, spot deals were mostly done at 13,940-13,950 yuan/mt, about 60 yuan/mt lower than those in Shanghai.
Trades across eastern and southern markets were tepid in the morning.
Market commentary
Aluminium
For queries, please contact William Gu at williamgu@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn
Related news
China weekly inventory summary and data wrap (Jul 2)
This is a roundup of China's metals weekly inventory as of July 2.
Jul 2, 2021 20:00
Spot aluminium purchases by downstream consumers improve in south China
Spot discounts in Shanghai stood at 80-70 yuan/mt against the SHFE 1903 contract
Feb 25, 2019 15:13
Weaker demand grows aluminium billet stocks
Stocks expanded 1,400 mt over the week ended Thursday Dec 27 to stand at 11,000 mt
Dec 27, 2018 10:12
SHFE zinc posts 3rd straight weekly decline
The most traded SHFE zinc contract fell for the third straight week, in the week ended Nov 2
Nov 2, 2018 16:48
Poorer consumption extends decline in primary aluminium social stocks
Inventories came in at 1.525 million mt as of Nov 1, down some 13,000 mt from Oct 25
Nov 1, 2018 11:56
SMM Morning Comments (Nov 1)
SMM Morning Comments
Nov 1, 2018 09:58
SMM Events & Webinars
All- Apr09
NET ZERO MEA - Solar & Energy Storage
Apr 09 - 10,2025MARRIOTT HOTEL AL JADDAF, DUBAI, UAE
- Apr09
2025 SMM (20th) Lead & Zinc Conference and Industry Expo
Apr 09 - 11,2025To promote the sustainable development of lead and zinc industry to build a high-end, professional, pragmatic exchange pNanjing · Jiangsu ·China
- Apr16
CLNB 2025 (10th) China International New Energy Industry Expo
Apr 16 - 18,2025Suzhou International Expo Center, Jiangsu, China
MOST POPULAR
Shanghai Metals Market
Privacy PolicyCompliance CentreSMM Credit ServiceContact UsAbout UsTerms & ConditionsSitemapHoliday Pricing Schedule
Notice: By accessing this site you agree that you will not copy or reproduce any part of its contents (including, but not limited to, single prices, graphs or news content) in any form or for any purpose whatsoever without the prior written consent of the publisher.
Drop us a line
service.en@smm.cn
How can we help you?
+86 021 5155-0306
Live chat via WhatsApp
Copyright © 2024 SMM Information & Technology Co., Ltd. All rights reserved.
