[SMM midday review] South China Aluminium: receiving goods, reducing transactions, weakening, adjusting the base difference before the festival.

Published: Apr 28, 2020 11:58

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Weak adjustment of base difference before receiving goods and turning into weak transactions

SMM4, 28 March:

Before noon, there were more shipments in the spot market in South China, the holder adjusted the price, and the big customers continued to receive the goods. The price of the monthly ticket was 12790-12800 yuan / ton, and the monthly ticket was about 12810 yuan / ton. After the suspension, the futures fluctuated narrowly and the transaction was not smooth. The transaction price was 1278012790 yuan / ton range. The spot price gap between Guangdong and Shanghai narrowed to about 200 yuan per ton. The arrival of depressed inventory continued to decline, the downstream just need to stock, Shanghai aluminum 05 / 06 gap narrowed to 50-70 yuan / ton, spot on the 05 contract rose back to 250 yuan / ton, the base difference is in the adjustment stage.

(SMM Child Forest 075785511521)

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