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01 SEPTEMBER 2017 AL CIRCLE

Rally in SHFE Aluminium pushes traders back to the spot Market on Thursday, August 31

EDITED BY : BEETHIKA BISWAS 1MINS READ

SHFE Aluminium bounced back yesterday, August 31 after the drop the day before.  Rally in SHFE 1709 aluminium encouraged traders to throng the east China spot market. Downstream producers still bought as per their demand.


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Mainstream traded prices for aluminium were RMB16, 220-16,260/tonne in Shanghai, RMB16,220-16,250/tonne in Wuxi and RMB16,200-16,220/tonne in Hangzhou. Spot discounts of RMB 250-240/tonne were offered over SHFE 1709 aluminium. During Thursday’s night trading, most of the base metals finished higher, especially aluminium, zinc and nickel. SHFE 1711 aluminium is expected to fall back to RMB 16,560-16,740/tonne on Friday.

SMM continues to observe that many downstream producers in Zhejiang closed operations due to environmental issue, hurting local demand for aluminium.


According to the website of the National Development & Reform Commission (NDRC), China’s production of ten nonferrous metals reported no growth in July. Aluminium production fell 0.3%, with declines narrowing 1.2 percentage points YoY. 

According to SMM, A00 aluminium ingot price has dropped 0.32% in the week ending Sep 1 from the last week’s average price of RMB 16,144/tonne.

Tagged with:

Aluminium Price China SMM

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EDITED BY : BEETHIKA BISWAS 1MINS READ

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