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[SMM Meridian Review] East China Aluminum: aluminum prices floating before noon shipments by shippers change from positive to convergent
Apr 16,2020 12:09CST
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Source:SMM
[SMM Meridian Review] East China Aluminum: aluminum prices floating before noon shipments by shippers change from positive to convergent
The content below was translated by Tencent automatically for reference.

SMM4, 16 March:

Aluminum prices fluctuated in the range after the aluminum price fluctuated upwards before noon. In the morning, the quotation of the holder in Shanghai Wuxi area is between 1198011990 yuan / ton, which is 120 yuan / ton higher than yesterday's price. After 10: 30, the quotation is concentrated in 1201012030 yuan / ton, between 10 and 11920 yuan / ton, while in Hangzhou area, the quotation is about 11910-11920 yuan / ton. Morning shippers are more active, middlemen generally receive goods, with the aluminum price upward, coupled with a large market receiving price is better, the overall market quotation upward, at this time the shipper convergence performance wait and see, although the middleman actively receive the goods, but at this time it is more difficult to close the deal. Downstream today, mainly on-demand pick-up, because aluminum prices rose significantly before noon, downstream procurement enthusiasm was restrained to a certain extent. The overall transaction in East China is better by noon.

(Xu Man 021-51595898)

 

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