SHANGHAI, May 15 (SMM) – Guangdong saw brisk overall trading on Tuesday May 15 as local downstream consumers were keen to purchase given stable prices of aluminium, SMM learned.
The SHFE 1805 contract rebounded from a low of 14,550 yuan/mt in the morning.
In Guangdong, cargoes with May invoices mostly traded at 14,570-14,590 yuan/mt with Guangdong-Shanghai price spreads around 40 yuan/mt. A major aluminium producer purchased 2,000 mt of cargoes at 14,590 yuan/mt.
In east China, transactions of cargoes with May invoices were mostly done at 14,560-14,580 yuan/mt, with discounts of 10-0 yuan/mt against the SHFE 1805 contract. Transactions in Wuxi and Hangzhou were heard at 14,560-14,570 yuan/mt and 14,580-14,590 yuan/mt, respectively. Traders offered actively earlier in the morning with offers down to 14,560 yuan/mt, from 14,580 yuan/mt. A major aluminium producer purchased 2,000 mt of cargoes at 14,570 yuan/mt.
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