Shanghai Metals Market
East China Aluminum: Transactions Improve with Downstream Replenishment by Year End
Edited by : AL CIRCLE
1 min read
Traded prices of spot aluminum in Shanghai were between RMB 16,000-16,040/mt on Friday, with discounts of RMB 10-50/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,080-16,090/mt in Shanghai.
Traded prices of spot aluminum in Wuxi were between RMB 15,990-16,030/mt. SHFE aluminum prices opened higher with the SHFE current-month aluminum price testing at RMB 16,050/mt. Several large enterprises bought goods for replenishment at around RMB 16,000/mt by year’s end. In domestic spot markets, traders with large inventories were actively moving goods, even with expanded spot discounts. The remaining middlemen and traders with lower inventories began financial settlement and stayed away from the market. Transactions improved slightly on the whole.
Traded prices of spot aluminum in Wuxi were between RMB 15,990-16,030/mt. SHFE aluminum prices opened higher with the SHFE current-month aluminum price testing at RMB 16,050/mt. Several large enterprises bought goods for replenishment at around RMB 16,000/mt by year’s end. In domestic spot markets, traders with large inventories were actively moving goods, even with expanded spot discounts. The remaining middlemen and traders with lower inventories began financial settlement and stayed away from the market. Transactions improved slightly on the whole.
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