Spot aluminium premium widens in Shanghai on brisk transactions
Shanghai Metals Market research found brisk transactions between traders widened spot aluminium premiums in Shanghai on Friday, 16 November 2018.
The SHFE 1812 contract rose in the second session of morning after trading rangebound in the first session.
Spot premiums in Shanghai stood at RMB30-40 per tonne over the SHFE 1812 contract, compared to RMB20-30 per tonne in the previous day. Most transactions were done at RMB13,660-13,670 per tonne in Shanghai and Wuxi and RMB13,670-13,690 per tonne in Hangzhou.
Most transactions in Guangdong were heard at RMB13,740-13,760 per tonne , with Guangdong – Shanghai spread at RMB90 per tonne.
In Guangdong, billet processing fees were heard at RMB460-500 per tonne for 90mm and RMB440-480 per tonne for 110/120 mm and 150/178 mm. Trades among traders in south and east China remained brisk while purchasing enthusiasm among downstream consumers waned from the previous day.
The price of aluminium alloys (ADC12) recorded no change on, Friday November 16.The price is still hovering at RMB 15,350 per tonne. The price is expected to range between RMB15250- 15450 per tonne.
The prices of aluminium alloy (A356) and aluminium alloy (A380) remained unchanged at RMB14350 per tonne and RMB16050 per tonne today.
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