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[SMM afternoon Review] South China Aluminum: futures prices fall first and then rise, spot prices rise and fall slightly.
Jul 22,2020 12:10CST
translation
Source:SMM
Futures prices fall first and then rise. Spot prices rise and fall slightly.
The content below was translated by Tencent automatically for reference.

SMM, July 22nd:

Before noon, the mainstream spot transaction price of aluminum ingots in South China was 14400 won 14500 yuan / ton, and the discount from South China to East China was 40 won 60 yuan / ton, slightly narrower than yesterday. Yesterday afternoon, the spot market for Shanghai Aluminum 2008 contract rose around 100yuan / ton, which changed little. In early trading, aluminum opened high and left low, slightly weak, the buyer accepted the goods at a low price, the market was basically discounted, and the large households still purchased in a single batch, and the basis was not significantly reduced. Tianshan, Baikuang, Hope, Hualei and other Pu aluminum posted 20 yuan / ton on the net price. The second period of aluminum quickly rebounded and pulled up, the spot turned to rising water and continued to rise, after the price increase, the market activity decreased, and the transaction became weaker. The price of Shanghai Aluminum 2008 contract is lowered to 60mur100 yuan / ton, and the actual transaction price difference between Guangdong and Shanghai is 50 yuan / ton. Low iron prices such as Hua Qian and Hualei are higher than Pu Aluminum by 10 murals and 30 yuan per ton. Rusal and other imported aluminum ingots are still about 100 yuan cheaper than domestic aluminum ingots.

(SMM Tong Lin 0757Mui 85511521)

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