[SMM afternoon Review] South China Aluminum: increased inventory, ample supply of goods in circulation continues to be bearish on Guangdong basis.

SMM, July 6:

Before noon, aluminum ingots in the South China market opened high and went low, quotations kept falling, and large households purchased only one batch of aluminum ingots. The mainstream transaction price was 14450 won 14470 yuan / ton, and a small amount of low price was 14440 yuan / ton. The futures in the secondary period changed little, the spot price adjusted narrowly, and the mainstream transaction price remained at 14440 14470 yuan / ton, and there was basically no rising water transaction before noon. The spot price difference between Guangdong and Shanghai is maintained at 30 murals and 50 yuan per ton. Spot to 07 contract rising water fell to 90 murals 130 yuan / ton, Shanghai Aluminum 07 / 08 differential fluctuation increased, operating range at 230 Mel 310 yuan / ton, import aluminum ingots increment, circulation supply is abundant, the market relative supply exceeds demand, continue to be bearish on Guangdong basis.

(SMM Tong Lin 0757Mui 85511521)

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