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25 MARCH 2019 AL CIRCLE

Spot aluminium premiums in south China widen against futures prices fall: SMM

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Followed by a breakthrough of RMB 300 per tonne last Friday, spot aluminium premiums in south China extended gains today, on March 25, Shanghai Metals Market found. In Shanghai, premiums over the front-month April contract on Shanghai Futures Exchange hovered between RMB 320 per tonne and RMB 340 per tonne, compared with RMB 310 per tonne to RMB 330 per tonne on Friday, SMM learned. Spot transactions were seen at RMB 13,950 per tonne to RMB 13,970 per tonne, down some RMB 60 per tonne from last Friday.

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Spot transactions in Wuxi mostly occurred at RMB 13,950 per tonne to RMB 13,970 per tonne while that in Hangzhou at RMB 13,990 per tonne to RMB 14,010 per tonne this morning. Spot aluminium premiums stood above RMB 330 per tonne in early morning trade but dipped in later trade as smelters and traders turned much more willing to discharge cargoes.

Buying interest among traders across eastern markets, however, cooled from previous days. Downstream consumers purchased only on demand.

In Guangdong, spot aluminium mostly traded at RMB 13,960 per tonne to RMB 13,970 per tonne before CST 10:30 this morning. Later on, when futures prices fell, traded prices dropped to RMB 13,940 per tonne to RMB 13,960 per tonne.

Transactions between traders accounted for the majority of trading activities in south China.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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