Primary Aluminium News - Market

Gains in primary aluminium future prices reduce buying enthusiasm of downstream consumers: SMM

  | AL Circle   |

Shanghai Metals Market found downstream consumers across spot aluminium markets in east and south China held back from purchasing in morning on Monday, January 7, amidst growing futures prices.

Spot discounts in Shanghai remained unchanged from Friday morning and thus, were heard at RMB 20 per tonne and RMB 10 per tonne against the SHFE 1901 contract. In Shanghai and Wuxi, most spot transactions were seen at RMB 13,350 per tonne and RMB 13,360 per tonne while that in Hangzhou at RMB 13,360 per tonne to RMB 13,370 per tonne.

Prices rose close to RMB 40 per tonne from Friday, which sidelined downstream consumers in the east and south.

In Guangdong, on the other hand, transactions occurred at RMB 13,450 per tonne to RMB 13,490 per tonne, with Guangdong-Shanghai spreads of RMB 110 per tonne, found Shanghai Metals Market.

The overall trades in the south stood poor but the east market saw brisk trades since a large trader purchased more than 7000 tonnes of cargoes in the eastern market.

Edited By:


This news is also available on our App 'AlCircle News' Android | iOS


Related Business Leads
Buying request Aluminium Ingot A7
Interested to buy aluminium ingot A7. Destination - India
Posted On : 30 Nov 2023

Buying request Aluminium Ingot A7
Need suitable sellers of aluminium A7 ingots. Place of Origin - Any place Payment Terms - DLC or SBLC, 2% PB
Posted On : 30 Nov 2023

Buying request Aluminium Ingot A7
Interested to buy aluminium ingot A7 from manufacturers only. Destination - China
Posted On : 30 Nov 2023

Interested to buy A7E / P1020A  aluminium ingots. Size of Ingot : 10 Kg or 23 Kg Delivery Location : Qatar Estimated Delivery Date : 27th December'...
Posted On : 28 Nov 2023

Buying request Aluminium Ingot A8
Interested to buy aluminium ingot A8. Destination - Guangzhou or Shanghai, China 
Posted On : 28 Nov 2023
Alternate Text
EPIQ Machinery

A world class equipment designer specialized in developing innovative & effective solutions for heavy equipment, vehicles, and material handling systems

Alternate Text
Altek

Leading manufacturer of value-added equipment for the aluminum casthouse

Alternate Text
Jagannath Company

Manufacturers & Supplier of Magnesium Metal and Aluminium Foundry Chemicals

Alternate Text
CETAG

A supplier of proven systems and an expert adviser in aluminum casthouse technology, offering its services worldwide to the aluminum industry.

Alternate Text
IBAAS-JNARDDC 2023

4-6 December 2023 at Chitnavis Centre in Nagpur, India.

Alternate Text
IGUN METALS AND FINANCE INC

Global supplier of aluminium alloy and base metals from Africa