Weekly Review Of Major Spot Markets In China

SHANGHAI, May 22 (SMM) - East China: Tight supply encouraged sellers to hold offers firm at the beginning of last week. Downstream buyers became cautious after aluminium prices rebounded. The premiums of SMM A00 aluminium expanded from 80 yuan/mt at the beginning of the week to 150 yuan/mt over the SHFE 2306 contract.

Gongyi: Downstream enterprises restocked only as needed. Discounts expanded from 90 yuan/mt to 150 yuan/mt against SMM A00 aluminium prices.

South China: Falling inventories encouraged sellers to hold offers firm at the beginning of last week, but transactions weakened in the second half of the week. Premiums narrowed from 170 yuan/mt to 135 yuan/mt over SMM A00 aluminium prices.