
Shanghai Metals Market found brisk trading in east China on Friday morning, March 1, as lower aluminium prices improved purchasing willingness among traders and downstream consumers. Weekend stockpiling was also an important reason for the improved purchasing and therefore, brisk trading as a result.

In Shanghai, spot deals were mostly seen at RMB 13,540 per tonne to RMB 13,550 per tonne, down more than RMB 60 per tonne from Thursday morning. The front-month March aluminium contract on the Shanghai Futures Exchange also fell from the previous day.
Against the SHFE 1903 contract, spot discounts in Shanghai narrowed from RMB 80 per tonne to RMB 40 per tonne in the first part of the morning session, as futures prices dropped. Spot discounts were seen at RMB 50 per tonne to RMB 40 per tonne when futures prices stabilised in the second part of the morning session.
In Guangdong, on the other hand, spot trades were mostly done at RMB 13,550 per tonne to RMB 13,560 per tonne, and the spread with prices in Shanghai barely changed at RMB 10 per tonne.
The Aluminium Corporation of China, however, did not make public purchases in eastern or southern markets this morning.
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