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Home / Metal News / East China Aluminum: Premiums Narrow as Transactions Plunge

East China Aluminum: Premiums Narrow as Transactions Plunge

Jul 14, 2011 12:44

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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