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[SMM afternoon Review] South China Aluminum: the basis for receiving goods is weak, and the price gap between Guangdong and Shanghai continues to narrow.
May 29,2020 12:06CST
translation
Source:SMM
The base difference weakens and the price gap between Guangdong and Shanghai continues to narrow.
The content below was translated by Tencent automatically for reference.

On the 29th of the month of SMM5:

Before noon, there were few shipments in the spot market in South China, the holders actively shipped the goods, and the purchases by large households increased slightly. The transaction price of the current month ticket was around 13550 won 13580 yuan / ton, and the next month ticket price was 13520 won 13560 yuan / ton. The futures in the secondary period were weak, and the trading activity of the traders was not high, and the transaction price was 13520 won 13540 yuan / ton. The spot price gap between Guangdong and Shanghai narrowed to 120 yuan per ton, down nearly 100 yuan from the high at the beginning of the week. The main force of futures began to move positions, the difference between Shanghai Aluminum 06 / 07 and 06 contract fell sharply to 180 Mel 220 yuan / ton, and the basis adjustment may be nearing the end.

(SMM Tong Lin 0757Mui 85511521)

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In the afternoon

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