[SMM midday review] East China Aluminium: constriction of shipments by shippers has increased significantly

Published: Apr 2, 2020 11:59

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SMM4, March 2:

Aluminum prices fluctuated before noon. In the morning, the price quoted by the holder in Shanghai Wuxi area is between 11290-11310 yuan / ton, which is 220 yuan / ton lower than yesterday's price. With the rise of the plate, the price after 10: 30 is concentrated in the range of 11340-11360 yuan / ton, and the price in Hangzhou is between 11330 and 11350 yuan / ton. The trading of traders in the morning is OK, because of the expectation of tax reduction, the market sentiment gradually heats up, the number of consignees increases gradually in the later stage, the shippers' willingness to ship converges, the market begins to take on less and more, and the spot circulation becomes tighter, but the actual transaction begins to show a stalemate. Downstream today, mainly on-demand stock, some traders feedback as the price of aluminum fell to the downstream psychological low level, the volume of goods received today is significantly higher than in the previous two days. Overall, East China closed today as a whole.

(Xu Man 021-51595898)

Quotation aluminum ingots afternoon news

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