
According to Shanghai Metal Market, China’s aluminium spot market witnessed a significant rise in trading, especially in Shanghai, Hangzhou, and Wuxi on Thursday, May 3, 2018. The reason was more and more traders wanted to stockpile aluminium due to tight market supply. Transactions in Guangdong, however, remained flat due to sluggish downstream demand.
In Shanghai, while the transactions for cargoes with May invoices stood at RMB 14400 to RMB 14410 per tonne with discounts of RMB 50 to RMB 40 per tonne against the 1805 contract, in Wuxi and Hangzhou, the transactions were heard at RMB 14400 to RMB 14410 per tonne and RMB 14420 to RMB 14440 per tonne respectively. Most of the transactions were from traders since downstream demand remained low.
{alcircleadd}Guangdong, on the other hand, had a quieter market as the lesser number of traders indulged in stockpile for having a relatively adequate supply. Cargoes with May invoices traded at RMB 14440 to RMB 14450 per tonne with a Guangdong-Shanghai price spread of RMB 40 per tonne.

The above chart shows a rise in average A00 aluminium ingot price on May, 4 2018.
Nonetheless, the overall active trading across the East China market has spread a positive sentiment, including the further rise in average A00 aluminium ingot price on May 4, 2018. While on 3rd of May, the price rose a bit from RMB 14330 per tonne to RMB 14390 per tonne, on the face of active trading in China market, the price saw a further jump subsequently on May 4, 2018, to close at RMB 14450 per tonne. The prices are expected to range between RMB 14430 per tonne and RMB 14470 per tonne, with spot discounts remaining same to settle at RMB 70 to RMB 30 per tonne.
According to another update from Shanghai Metal Market, alumina spot price witnessed no change on Friday, May 4 after a plunge on the previous day from RMB 3135 per tonne to RMB 3118 per tonne.
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