[SMM midday review] South China Aluminum: too few stocks in circulation, tight spot supply continues to strengthen

Published: Apr 22, 2020 12:07

Save

The supply of goods in circulation is relatively small, the supply of goods in circulation is tight, and the rising water of spot continues to strengthen.

SMM4, 22nd:

In the morning, there are many inquiries and receipts in the South China spot market, and the holdings are also actively quoted and shipped. The mainstream transaction prices are around 12310 yuan / ton and a small number of low prices are 12300 yuan / ton. After the suspension, futures fluctuate within a narrow range, spot quotations remain strong, stock demand is stable, and transaction prices rise to 12320-12360 yuan / ton range. The spot price difference between Guangdong and Shanghai has been expanded to 50-60 yuan per ton. Price fluctuations did not affect downstream demand, good delivery less goods, circulation supply is tight, Shanghai aluminum 05 / 06 gap expanded to 90-100 yuan / ton, spot to 05 contract rose to 130-140 yuan / ton, there is still room above the base difference.

(SMM Child Forest 075785511521)

"Click to view SMM historical price data

Afternoon news

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn