SHANGHAI, May 4 (SMM) – East China: Transactions were modest last week. The premiums of SMM A00 aluminium ingots turned from 20 yuan/mt last Monday into discounts of 10 yuan/mt on Friday.
Gongyi: Consumption was weak, and power transmission line maintenance disturbed downstream production. However, due to the decline in SHFE aluminium prices, the discounts narrowed from 100 yuan/mt to 80 yuan/mt against SMM A00 aluminium prices in east China.
South China: Downstream buyers restocked as needed amid falling aluminium prices. Spot premiums shrank in the second half of the week, attracting some buyers. The premiums narrowed from 130 yuan/mt to 110 yuan/mt over the SHFE 2305 aluminium contract.
