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Home / Metal News / East China Aluminum: Spot Premiums Steady at RMB 100/mt, Transactions Remain Sluggish

East China Aluminum: Spot Premiums Steady at RMB 100/mt, Transactions Remain Sluggish

Jul 22, 2011 13:33

Source:SMM

SHANGHAI, Jul. 22nd (SMM) – Traded prices of spot aluminum in Shanghai on July 22 were between RMB 17,790-17,810/mt,

SHANGHAI, Jul. 22nd (SMM) – Traded prices of spot aluminum in Shanghai on July 22 were between RMB 17,790-17,810/mt, with premiums of positive RMB 80-100/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 17,820-17,840/mt. Traded prices of spot aluminum in Wuxi were between RMB 17,770-17,800/mt. Quick rebounding of SHFE aluminum prices during the day helped spot aluminum prices break RMB 17,800/mt, and spot premiums in Shanghai were kept at positive RMB 100/mt over SHFE current-month aluminum prices supported by supply shortage. However, market transactions were sluggish due to low buying interest at above RMB 17,800/mt.

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