Spot aluminium trades across eastern and southern markets improve from previous day
On Tuesday February 12, spot aluminium transactions across eastern and southern markets in China picked up from the previous day, according to Shanghai Metals Market. The slightly better spot transactions could be attributed to improved deals between traders.
Overall spot aluminium trades remained poor as downstream purchases stayed at lows.
The front-month aluminium contract on the Shanghai Futures Exchange traded range bound in the morning. Spot discounts in Shanghai were heard at RMB 50 per tonne against the SHFE 1902 contract earlier in the morning, before it fell to RMB40-30 per tonne.
Spot transactions in Shanghai, Wuxi and Hangzhou were at RMB 13,270 per tonne to RMB 13,290 per tonne, up from the previous morning.
In Guangdong, spot transactions occurred at RMB 13,320 per tonne, with the Guangdong-Shanghai price spread at RMB 40 per tonne
Most aluminium processing plants in Guangdong would resume from February 14, Shanghai Metals Market learned.
LME aluminium starts the week lower; SHFE drops 1.1% on the first trading day after CNY break
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