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East China Aluminum: Futures Lost over 1%, Spot Premiums Surge
Aug 16,2011 13:49CST
smm insight
Source:SMM
Trading prices of spot aluminum in Shanghai on August 16th were between RMB 17,730-17,760/mt, with premiums of

SHANGHAI, Aug. 16 (SMM) – Trading prices of spot aluminum in Shanghai on August 16th were between RMB 17,730-17,760/mt, with premiums of positive RMB 200-240/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 17,770-17,810/mt. Trading prices of spot aluminum in Wuxi were between RMB 17,720-17,750/mt.After SHFE current-month aluminum contract changed to 1109, most active SHFE 1111 aluminum contract prices opened lower and was followed by a loss of over 1%, and spot prices followed to fall. However, as goods holders were unwilling to move goods at low prices, spot premiums again surged to above RMB 200/mt.Market transactions were limited due to cautious sentiment among purchasers.
 

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