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[SMM afternoon Review] South China Aluminum: the inventory decline is stronger than the spot price gap between Guangdong and Shanghai widens slightly.
May 18,2020 12:13CST
translation
Source:SMM
The price gap between Guangdong and Shanghai widens slightly.
The content below was translated by Tencent automatically for reference.

SMM5 March 18:

In the morning, there were many inquiries in the spot market in South China. After the month was changed, the holders offered cautiously, and large households purchased more than one batch of prices. The mainstream transaction price was 13170Muth13190 yuan / ton. The futures price in the secondary period remained the same, and the price quoted by the holder continued to rise. The transaction price rose from 13190 yuan / ton to 13240 yuan / ton. The spot price difference between Guangdong and Shanghai is 30 yuan per ton. Futures near strong and far weak pattern remains unchanged, and the monthly difference is still expanding, Shanghai Aluminum 06 / 07 difference expanded to around 300 yuan / ton, spot 06 contract rising water at 160 won 200 yuan / ton, Guangdong aluminum ingot inventory dropped to 200000 tons, there is room for the basis to continue to strengthen under the pace of going to the warehouse.

(SMM Tong Lin 0757Mui 85511521)

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In the afternoon

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