[SMM afternoon Review] South China Aluminum: the supply of goods in circulation in the market is abundant and the spot rising water is relatively weak.

Published: Jul 24, 2020 12:23

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The supply of goods in circulation in the market is abundant and the spot rising water is relatively weak.

SMM, July 24th:

Before noon, the mainstream spot transaction price of aluminum ingots in South China was 14470 Mel 14490 yuan / ton, and the discount from South China to East China was 40 won 50 yuan / ton, which was little changed from yesterday. Yesterday afternoon, the spot market transaction price for Shanghai Aluminum 2008 contract was 80 yuan / ton, and the spot price was still weak. High aluminum fell continuously in early trading, down nearly 100 yuan, the market quotation floated, large single batch purchases, the basis fell slightly, Tianshan, Baikuang, Hope, Shenhuo and other common aluminum to the net price of 10 murals 20 yuan / ton. In the second period of time, aluminum stopped falling and stabilized, and the spot quotation was weakly adjusted. Some of them just needed replenishment on Friday, but trading among traders was weak. The discount of Pu Aluminum to net price is 20 yuan / ton, the price increase of Shanghai Aluminum 2008 contract is maintained at 80 yuan / ton, the actual transaction price difference between Guangdong and Shanghai is 60 yuan / ton, the low iron price of Hua Qian, Qianxing and other low iron is higher than that of Pu Aluminum, and the price of imported aluminum ingots such as Rusal is 60mur100 yuan / ton cheaper than that of domestic aluminum ingots, and the import price of imported aluminum ingots in public warehouses is relatively lower.

(SMM Tong Lin 0757Mui 85511521)

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In the afternoon

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