[SMM afternoon Review] South China Aluminum: the rising basis of Aluminum Price maintains Stability and poor spot Trading

Published: Jul 29, 2020 12:10

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The rising basis of aluminum prices maintains stability and poor spot trading.

SMM, July 29th:

Before noon, the mainstream spot transaction price of aluminum ingots in South China is 14680-14730 yuan / ton, and the discount from South China to East China is about 50-60 yuan / ton, which has not changed much from yesterday. Yesterday afternoon market spot quotation price for Shanghai Aluminum 2008 contract rising water remained at 20-40 yuan / ton, spot rising water to maintain stability. Aluminum first fell and then rose in early trading, spot weakness is difficult to change, next month ticket aluminum ingot discount is mainly, the monthly ticket / next month ticket price difference is about 10 yuan / ton, the normal purchase of large households, futures slightly down, Tianshan, Baikuang, Hope, Shenhuo and other common aluminum net price of 0-20 yuan / ton. In the second period of time, aluminum stopped falling and rebounded, falling slightly in late afternoon trading, with a large range of spot price adjustments, but still dominated by discounts, and the situation of receiving goods in the market was not good. The spot price of Pu aluminum is 0-50 yuan / ton, the premium of Shanghai aluminum 2008 contract is 30-50 yuan / ton, the actual transaction price difference between Guangdong and Shanghai is 50-70 yuan / ton, and the low iron content of Hua-Qian and Qianxing is 10-30 yuan / ton higher than that of general aluminum. Yunnan aluminum is in short supply, and imported aluminum ingots such as Russian aluminum and Southeast Asia are 50-100 yuan cheaper than domestic aluminum ingots.

(SMM Tong Lin 0757-85511521)

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