Shanghai Metal Market
South China Aluminum: Remarkable Contrast in Futures and Spot Markets with Quiet Spot Trading
Edited by : AL CIRCLE
1 min read
SHFE aluminum rallied significantly in the afternoon session on Monday, up nearly 3%. By contrast, spot aluminum market was quite lackluster, and downstream buyers in south China just purchased as needed. Although cargo holders actively sold goods at low prices, limited consumption pared increase of spot aluminum. Mainstream transactions were done at RMB 16,490-16,530/mt, slightly lower than aluminum prices in Shanghai. Trading market was quiet in general.
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