Shanghai Aluminium Oscillation stabilizes, short term concern about whether Rusal will reduce production or not
At present, the term structure of Shanghai Aluminum maintains a near low and far higher positive alignment, and the positive spread between the 1810 and 1811 contracts is maintained at 65 yuan per ton. Spot transaction, according to SMM reports, Shanghai concentrated 14600-14630 yuan / ton, the same month discount 30-10 yuan / ton, Wuxi concentrated 14600-14630 yuan / ton, Hangzhou transaction concentrated 14620-14640 yuan / ton. Smelter shipping attitude increased, market circulation sources increased, spot discount slightly expanded, middleman willingness to receive goods more hesitant, spot prices are more stable in the near future, downstream enterprises purchase willingness to improve, the overall deal slightly better than yesterday.
News Date: Sep 12th, 2018 Reported by Doreen.