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[SMM Weekly report selected] the monthly difference of aluminum is rising sharply, the inventory expansion is going to increase, and the base difference is falling.
Jul 4,2020 13:11CST
translation
Source:SMM
[SMM Weekly selection] the average spot price of aluminum ingots in Guangdong this week was 14334 yuan / ton, up 234 yuan / ton from the previous month, exceeding the spot price at the end of January. During the week, the Shanghai Aluminum Index closed at the real positive line, with the main contract rising by more than 3%, breaking through and standing firmly in full digits, and the difference between July and August widened sharply from 160 yuan / ton to 300 yuan / ton.
The content below was translated by Tencent automatically for reference.

"SMM aluminum industry chain weekly report" released, the weekly report SMM will select one of the hot topics, prices, market or major changes in the industry chain information released into a document for your reference.

The following is an excerpt from the weekly report of SMM aluminum industry chain:

The average spot price of aluminum ingots in Guangdong this week was 14334 yuan / ton, up 234 yuan / ton from the previous month, exceeding the spot price at the end of January. During the week, the Shanghai Aluminum Index closed at the real positive line, with the main contract rising by more than 3%, breaking through and standing firmly in full digits, and the difference between July and August widened sharply from 160 yuan / ton to 300 yuan / ton. Guangdong aluminum ingot spot to futures upward discount trend downward, from about 300 yuan / ton to 150 yuan / ton, the spot price gap between Guangdong and Shanghai narrowed slightly to 30m / ton 80 yuan / ton. The inventory of aluminum ingots in Guangdong on Friday was 154800 tons, an increase of 3300 tons compared with last Wednesday.

Futures rose sharply, the spot is relatively weak and weak; northern aluminum ingots and imported aluminum ingots arrived, the supply of goods in circulation in Guangdong increased during the week, downstream just need to purchase mainly. Traders are actively shipping, the basis and monthly difference structure is not conducive to spot hedging, the implementation of long orders is normal, the market is more bearish followed by rising water, the monthly difference also has a further expanding trend. It is expected that next week, the spot price gap between Guangdong and Shanghai is expected to narrow and continue to narrow.

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Catalogue of "SMM Aluminum Industry chain Weekly report" in this issue

Main points of this issue's weekly report

1. Analysis of the influence of the change of Import waste Aluminum Policy on Aluminum Industry chain

2. During the week, the increase in domestic alumina prices expanded and kept pace with the rise overseas.

3. Aluminum is expected to rise sharply, the monthly difference will be expanded, the inventory will be expanded, and the base will fall.

4. There is plenty of supply of goods in circulation outside the warehouse, and there is still room for the processing fee to fall.

5. The implementation of the new standard of waste aluminum has been postponed and the Q3 approval documents of six types of waste aluminum have not been reduced.

There is still a decline in downstream demand in June and July, it may be difficult for new imports to land in the short term.

7. The trend of metal silicon tends to be stable and the arrangement of silicon plants is compact.

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The contents of "SMM China Aluminum Industry chain High-end report" include: macro hot spots, alumina, electrolytic aluminum, waste aluminum, aluminum accessories, aluminum, waste aluminum pre-baked anode analysis, the scope to accommodate the spot market, futures, inventory market performance and aluminum processing start-up rate research, and pay attention to real-time LME, SHFE and SMM prices. "View details

The "SMM China Aluminum Industry chain routine report" includes: macro hot spots, alumina, electrolytic aluminum, waste aluminum, pre-baked anode analysis, spot market, futures, inventory performance and other changes and related news, and focuses on real-time LME, SHFE and SMM price trends. "View details

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