[SMM afternoon Review] East China Aluminum: in the early afternoon, aluminum rose first and then restrained the spot rising water to maintain a relatively strong strength.

Published: Jul 2, 2020 12:03
[SMM afternoon Review] East China Aluminum: in the early afternoon, aluminum rose first and then restrained the spot rising water to maintain a relatively strong strength.

SMM7, March 2:

Aluminum rises first and then suppresses in the early afternoon. In the morning, the spot price in Shanghai is between 14400 and 14410 yuan / ton. In the second trading stage, with the fall of aluminum futures, Shanghai prices begin to concentrate between 14360 and 14380 yuan / ton. Around 130 yuan / ton of aluminum futures, the morning spot price in Wuxi is between 14420 and 14430 yuan / ton, and in the later stage it is 14400 14420 yuan / ton, which is nearly 70 yuan / ton higher than that of yesterday. The spot price of aluminum futures is between 130 and 150 yuan / ton. Wuxi spot price is relative to Shanghai. The spot price is between 14420 and 14420 yuan / ton, which is up nearly 70 yuan / ton compared with yesterday's price. The spot price of aluminum futures is between 130 and 150 yuan / ton. Wuxi is relative to Shanghai. The price is on the high side, and the spot price in Hangzhou is between 14410 and 14430 yuan / ton. A large buyer plans to purchase more than 10,000 tons in East China today, and the normal quotation shows that the shipments of the holders are still relatively positive, the middlemen are relatively less willing to receive the goods, and the trading between the buyers and sellers is poor, which is obviously not as good as that in early June. Downstream today, mainly on-demand procurement, as aluminum prices have risen for several days in a row, taking into account the weakening of their own orders and the previous part of the hoarding of goods, the recent purchase interest is not high. The overall transaction in East China is poor today.

(Xu Man 021 muri 51595898)

 

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
Related News
Arconic Breaks Ground on $175M Iowa Plant Expansion for Next-Gen Growth
14 hours ago
Arconic Breaks Ground on $175M Iowa Plant Expansion for Next-Gen Growth
Read More
Arconic Breaks Ground on $175M Iowa Plant Expansion for Next-Gen Growth
Arconic Breaks Ground on $175M Iowa Plant Expansion for Next-Gen Growth
Groundbreaking Ceremony Held for Alcoa Arconic’s Davenport, Iowa Plant Arconic held a groundbreaking ceremony for a $175 million investment project at its Davenport, Iowa plant. The project will add a state-of-the-art aluminum casting complex to the facility. For company leadership, the No. 10 Pit expansion project represented both growth in the manufacturing business and a long-term commitment to the region. With expanded capacity, advanced technology, and a focus on efficiency and sustainability, Arconic was positioning itself and the local community for the next generation of industrial growth. Once completed, No. 10 Pit will significantly expand casting ingot capacity, increase aluminum scrap recycling, and improve overall energy efficiency.
14 hours ago
Tianshan Aluminum Acquires Stake in Guinean Mining Company, Secures Exclusive Mineral Rights Amid Bauxite Export Rumors
14 hours ago
Tianshan Aluminum Acquires Stake in Guinean Mining Company, Secures Exclusive Mineral Rights Amid Bauxite Export Rumors
Read More
Tianshan Aluminum Acquires Stake in Guinean Mining Company, Secures Exclusive Mineral Rights Amid Bauxite Export Rumors
Tianshan Aluminum Acquires Stake in Guinean Mining Company, Secures Exclusive Mineral Rights Amid Bauxite Export Rumors
Tianshan Aluminum Acquired a Stake in a Local Mining Company in Guinea and Obtained Exclusive Purchasing Rights to Its Mineral Products An investor asked on the investor interaction platform: Hello, there have recently been rumors that Guinea may restrict bauxite export quotas. Has any branch or subsidiary of Tianshan Aluminum in Guinea received any notice or information related to restrictions on the mining or export of Guinean bauxite? If so, could you disclose the specific details? Thank you! On March 19, Tianshan Aluminum stated on the investor interaction platform that the company had acquired a stake in a local mining company in Guinea and obtained exclusive purchasing rights to its mineral products.
14 hours ago
Emma Swan Appointed New Vice Chair of UK Aluminium Federation, Aiming for Sustainable Growth
14 hours ago
Emma Swan Appointed New Vice Chair of UK Aluminium Federation, Aiming for Sustainable Growth
Read More
Emma Swan Appointed New Vice Chair of UK Aluminium Federation, Aiming for Sustainable Growth
Emma Swan Appointed New Vice Chair of UK Aluminium Federation, Aiming for Sustainable Growth
Emma Swan, Managing Director of BOAL Extrusion UK, has been appointed the new Vice Chair of the Aluminium Federation (ALFED) in the UK. Ms. Swan brings a wealth of experience, leadership, and passion for the aluminum industry, and her appointment comes at a pivotal time for the industry and the broader UK manufacturing landscape. In her role as Vice Chair, Ms. Swan will work closely with Aluminium Federation Chief Executive Officer Nadine Bloxsome, Chair Wendy Giles of Amari Metals Ltd, and other members of the Federation’s Board to help advance the sustainable development priorities and advocacy interests of its members across the entire aluminum value chain.
14 hours ago
[SMM afternoon Review] East China Aluminum: in the early afternoon, aluminum rose first and then restrained the spot rising water to maintain a relatively strong strength. - Shanghai Metals Market (SMM)