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[SMM afternoon Review] South China Aluminum: futures pressure spot firm basis high adjustment
May 21,2020 12:00CST
translation
Source:SMM
Futures pressure spot firm basis high adjustment
The content below was translated by Tencent automatically for reference.

SMM5 March 21:

In the morning, there were too many inquiries and receiving goods in the spot market in South China, traders quoted shipments slightly increased, and large households purchased in multiple batches. The mainstream transaction price was 13570Mel 13600 yuan / ton, while a small amount of high price was 13610 yuan / ton. The futures in the secondary period were weakly adjusted, but the spot price was relatively stronger, with a transaction price of 13540Mel 13580 yuan / ton. The spot price difference between Guangdong and Shanghai widened to 130 murals and 150 yuan per ton. Futures are nearly strong and far weak, with Shanghai Aluminum 06 / 07 differential maintained at 300m / t, spot to 06 contract rising water at 300m / t, spot long order nearing the end, some traders actively receiving goods to cover the gap, there is not much room for basis correction, short-term or high adjustment.

(SMM Tong Lin 0757Mui 85511521)

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In the afternoon

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