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[SMM afternoon Review] East China Aluminum: lack of circulation brand richness, downstream stock status is better than the previous two days.
Jul 17,2020 12:09CST
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Source:SMM
[SMM afternoon Review] East China Aluminum: lack of circulation brand richness, downstream stock status is better than the previous two days.
The content below was translated by Tencent automatically for reference.

SMM7 March 17:

Aluminum will be suppressed and then raised before noon. In the morning, the spot price in Shanghai is between 14360 and 14380 yuan / ton, and the price in Wuxi is slightly higher, between 14370 and 14390 yuan / ton. The price of the two places is about 140 yuan / ton lower than yesterday, and the morning premium is around 280. the rising price is 30 yuan / ton higher than that of yesterday, and the aluminum goes up after 10: 40. Because the spot market is difficult to be called loose, the holder is more stout, and the quotation is raised accordingly. The spot in Shanghai is concentrated around 14400 yuan / ton in the later period. Wuxi area is around 14410 yuan / ton, and Hangzhou area is 14400MUR 14420 yuan / ton. A large family announced in the morning that the procurement plan for East China was more than 10,000 tons, and the trading of traders was OK. In the later period, aluminum prices rose rapidly, and the heat of market transactions declined somewhat. On the whole, the transactions between traders and buyers and sellers were more active. Today, the spot in circulation in the market is mostly Tianshan, Hope and its sub-brands, while brands such as Qingtong Gorge, Yulin and Hehuang are relatively rare. Some traders feedback that due to certain requirements for aluminum ingot brands downstream, due to the scarcity of preferred brands, the enthusiasm for receiving goods has been restrained to a certain extent, but considering that aluminum prices have dropped nearly 1,000 yuan compared to the beginning of the week, superimposed near the weekend there is a demand for stock, the willingness to buy today is obviously better than a few days ago. The overall transaction in East China is OK today.

(Xu Man 021 muri 51595898)

 

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