South China sees brisk spot aluminium trades

SHANGHAI, Jul 18 (SMM) – Trading in the south China spot aluminium market was brisk on Wednesday July 18 as sellers were willing to offload cargoes and as traders and downstream consumers were keen to purchase, SMM learned.

The SHFE 1808 contract hovered within a narrow range in the morning.

Transactions in Guangdong were heard at 13,990-14,000 yuan/mt with the Guangdong-Shanghai price spread at 80 yuan/mt.

Processing fees for billet inched up, with the 90 mm trading at 500-540 yuan/mt. The fees for the 120 mm mostly traded at 490-510 yuan/mt and those for 150/178 mm traded at 420-450 yuan/mt.

Trading in east China was also stable, without volatility in aluminium prices.

In Shanghai, most transactions were done at 13,900-13,910 yuan/mt with discounts of 80-70 yuan/mt against the SHFE 1808 contract. In Wuxi and Hangzhou, transactions were heard at 13,900-13,910 yuan/mt and 13,910-13,930 yuan/mt, respectively.