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East China Aluminum: Premiums Narrow as Transactions Plunge
Jul 14,2011 12:44CST
smm insight
Source:SMM
Traded prices of spot aluminum on July 14 in Shanghai were between RMB 17,540-17,570/mt, with premiums of positive RMB 20-50/mt over SHFE current-month aluminum prices...

SHANGHAI, Jul. 14 (SMM) -- Traded prices of spot aluminum on July 14 in Shanghai were between RMB 17,540-17,570/mt, with premiums of positive RMB 20-50/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 17,570-17,600/mt. Traded prices of spot aluminum in Wuxi were RMB 17,540-17,570/mt. SHFE current-month aluminum prices were struggling near RMB 17,500/mt. As the delivery date is drawing near, cautious sentiment was strong among purchasers and spot aluminum premiums narrowed as a result. However, aluminum traders were still unwilling to move goods and kept their quotes high. Market transactions were rarely reported as a result.


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