Primary aluminium price dip boosts downstream purchasing interest in east-China: SMM

Shanghai Metals Market research found that lowered aluminium prices on Wednesday morning, Dec-12-18, boosted the purchasing enthusiasm among spot aluminium downstream consumers across east-China markets compared to the previous day.

The SHFE December contract inched down during morning trades. Spot premiums in Shanghai remained unchanged at up to RMB 10 per tonne while transactions in Shanghai and Wuxi done at RMB 13,530 per tonne to RMB 13,540 per tonne and at RMB 13,570 per tonne to RMB 13,580 per tonne in Hangzhou. Trade prices lost some RMB 60 per tonne from the prior day.

Across the eastern markets, sellers were keen to offload cargoes to lower stocks, and trades between traders remained brisk.

Most spot transactions in Guangdong were heard at RMB 13,650 per tonne to RMB 13,680 per tonne with Guangdong-Shanghai spreads at RMB 140 per tonne. The Aluminium Corporation of China Limited (Chalco) made large purchases today, at RMB 13,680 per tonne.

According to another update from SMM, Yunnan Aluminium’s primary aluminium project in Heqing city, named Yixin Aluminium, is planning to commission 100,000 tonnes capacity by the end of the month out of its total capacity of 210,000 tonnes.

Aluminium ingots produced by Yixin Aluminium will enter the market by the end of January.

Some110,000 tonnes primary aluminium capacity in Zhaotong city, another project of Yunnan Aluminium named Haixin Aluminium, will also come online by the end of the year.

Copyright and Exemption Declaration :¢ÙAll articles, pictures and videos that are marked with "China Aluminum Network" on this website are copyright and belong to China Aluminium Network (www.alu.com.cn). When transshipment, any media, website or individual must list the source from "China Aluminium Network (www.alu.com.cn)". We seek legal actions against anyone that disobey this. ¢ÚArticles that marked as copy from others are for transferring more information to readers, do not represent or endorse their opinions or accuracy and reliability. When other media, website or individuals copy from our website, must keep the source. Anyone that changes the articles' sources will hold the responsibilities for copyright and law problems. We also seek legal actions against anyone that disobey this. ¢ÛIf any articles copied by our website concern the copyright and other problems, please contact us within one week.