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[SMM afternoon Review] South China Aluminum: imports pour into Guangdong and Shanghai spot prices are upside down
Jul 8,2020 12:13CST
translation
Source:SMM
Imports pour into Guangdong and Shanghai and spot prices are upside down.
The content below was translated by Tencent automatically for reference.

SMM, July 8:

In the morning, the South China market was active in inquiry and quotation, the supply of low-priced goods was good, and large households bought at a low price. The mainstream transaction price was 14280 million yuan / ton; the futures rose more than 100 yuan in the second period, and the spot price rose sharply, with the market price rising from 14300 yuan / ton to 14400 yuan / ton. The spot price in Guangdong and Shanghai is upside down, with a price difference of 40 yuan per ton. Spot to 07 contract water fell to near Pingshui, exceeding expectations, Shanghai Aluminum 07 / 08 differential operating range maintained at 240Mel 300 yuan / ton, the influx of imported aluminum ingots wantonly, a greater impact on the spot market in South China, the price is also nearly 100 yuan cheaper than domestic aluminum ingots, domestic aluminum ingots are under pressure, the basis may turn negative.

(SMM Tong Lin 0757Mui 85511521)

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In the afternoon

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