[SMM afternoon Review] South China Aluminum: Guangdong base spread dropped significantly, spot price difference between Guangdong and Shanghai maintained stability.

Published: Jul 27, 2020 12:13 (GMT+8)
The base difference in Guangdong has dropped significantly, and the spot price difference between Guangdong and Shanghai maintains stability.

SMM, July 27th:

Before noon, the mainstream spot transaction price of aluminum ingots in South China was 14500-14520 yuan / ton, and the discount from South China to East China was about 50 yuan / ton, little changed from last Friday. On Friday afternoon, the spot trading price of the Shanghai Aluminum 2008 contract ranged from 40 yuan / ton to 80 yuan / ton, and the spot price was weak. Early trading aluminum opened low and high, shock is strong, the market price is still small discount, the monthly ticket / next month ticket price difference is about 10 yuan / ton, large single batch purchase, futures are higher, the basis decline is obvious, Tianshan, Baikuang, Hope, Shenhuo and other common aluminum to the net price of 0-20 yuan / ton. The second period of aluminum fluctuations, the spot is not significantly up, Monday downstream delivery is not much, but trading between traders is OK; The net price of Pu Aluminum is 0-10 yuan / ton, and the price of Shanghai Aluminum 2008 contract falls to 30-50 yuan / ton. the actual transaction price difference between Guangdong and Shanghai is maintained at 50-60 yuan / ton. low iron such as Hua Qian and Qianxing is 10-30 yuan / ton higher than Pu Aluminium. Rusal and other imported aluminum ingots are 60-100 yuan cheaper than domestic aluminum ingots.

(SMM Tong Lin 0757-85511521)

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