[SMM midday review] South China Aluminum: arrival downturn, inventory decline, rising futures prices, rising water to maintain stability

SMM4, 20 March:

In the morning, there are not many shipments in the spot market in South China, inquiry and reception is OK, large customers have made many purchases, and the mainstream transactions are concentrated in the range of 12530-12540 yuan / ton; after the suspension of trading, futures rose first and then fell, the futures price of 12500 yuan / ton first line is faced with a larger hedging and selling pressure, the spot quotation is constantly adjusted, trading between traders is active, and the transaction price is in the range of 12500-12560 yuan / ton. the spot quotation is constantly adjusted, the trading between traders is active, and the transaction price is in the range of 12500-12560 yuan / ton. The spot price gap between Guangdong and Shanghai narrowed to about 30 yuan per ton. Guangdong arrived in the doldrums over the weekend, aluminum ingot inventory approaching 300000 tons, spot to 05 contract rose 60 yuan / ton, Shanghai aluminum 04 / 05 gap also widened from 20 to 70, the base difference remained strong.

(SMM Child Forest 075785511521)

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