SMM, July 16:

On the first trading day after the change of futures month, the activity of the South China market was not high in the morning, spot merchants were a little cautious in quotation, and large households bought at low prices. The mainstream transaction price was 14450 won 14460 yuan / ton, which was less than the low price around 14450 yuan / ton. During the second period, futures dived from a high platform and fell rapidly, and the transaction price was lowered all the way from 14460 yuan / ton to around 14370 yuan / ton. Spot prices in Guangdong and Shanghai continued to hang upside down, with the transaction price difference maintained at 60 per cent of 80 yuan per ton. Spot on the 08 contract water narrowed sharply to 180 murals 200 yuan / ton, Shanghai Aluminium 07 / 08 difference in 240Mel 300 yuan / ton. The futures market fell sharply, the spot decline was slightly narrower, and the market sentiment turned. After the sharp fluctuations in the future, the spot rising water is expected to stabilize.

(SMM Tong Lin 0757Mui 85511521)

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