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[SMM afternoon Review] South China Aluminum: spot trading is not prosperous basis difference is adjusted slightly
Jul 23,2020 12:15CST
translation
Source:SMM
Spot trading is not prosperous and the basis difference is adjusted 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 14460 Mel 14510 yuan / ton, and the discount from South China to East China was 40 Mel 60 yuan / ton, which was the same as yesterday. Yesterday afternoon, the spot market transaction price of Shanghai Aluminum 2008 contract rose 50 yuan / ton, bearish sentiment led to a significant drop in rising water. In early trading, aluminum first rose and then fell, really upward, the buyer began to sweep the goods after the price reduction was fruitless, and the market quotation went up, not many large buyers, and the basis was slightly reduced. Tianshan, Baikuang, Hope, Shenhuo and other common aluminum prices are flat to 10 yuan / ton. The second period of aluminum decline, the spot discount continues to expand, the market is more than less, trading is not prosperous; Pu Aluminium to the net price discount 20 cents 50 yuan / ton, the Shanghai aluminum 2008 contract premium slightly reduced to 50 murals 90 yuan / ton, the actual transaction price difference between Guangdong and Shanghai spot price in 50 murals 70 yuan / ton, Hua Qian, Qianxing and other low iron than Pu aluminum 10mur30 yuan / ton range, Rusal and other imported aluminum ingots cheaper than domestic aluminum ingots 100,120 yuan / ton.

(SMM Tong Lin 0757Mui 85511521)

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