[SMM midday review] East China Aluminum: convergence in considering traders' willingness to bid for settlement at the end of the month

Published: Oct 31, 2019 12:01

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SMM, 30 October:

Aluminum period of the month before noon to maintain the interval shock. The spot price in Wuxi area of Shanghai is between 13950 and 13970 yuan / ton, the spot price is about 70-80 yuan / ton, the spot rising water is nearly 20 yuan / ton compared with yesterday, the spot price is down 40 yuan / ton compared with yesterday, and the spot price in Hangzhou is 13960-13970 yuan / ton. Today, a large customer maintains the pace of receiving goods, because the holder takes into account the complexity of its trading process, and the pressure of its own capital settlement at the end of the month is greater, so it has not actively shipped to it, and is more inclined to trade with other middlemen, and the willingness to offer is more convergent than a few days ago. Other middlemen are still actively receiving the goods, and the buyers and sellers can deal well. Downstream today on-demand procurement, a small amount of stock, there is not too much bright spot. The overall transaction in East China was normal today.

(Xu Man 021-51595898)

Quotation aluminum ingots afternoon news

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