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East China Aluminum: Transactions Slightly Rose on Stock Replenishment
Oct 20,2011 15:39CST
smm insight
Source:SMM
Traded prices of spot aluminum in Shanghai were between RMB 16,350-16,380/mt on October 20th, with premiums of RMB 140-160/mt over the SHFE current-month aluminum price.

SHANGHAI, Oct. 20 (SMM) -- Traded prices of spot aluminum in Shanghai were between RMB 16,350-16,380/mt on October 20th, with premiums of RMB 140-160/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,440-16,480/mt. Traded prices of spot aluminum in Wuxi were between RMB 16,310-16,350/mt. SHFE aluminum prices gapped 2% lower again during today’s trading, and traders with relatively low stock levels stood on the sidelines as a result. However, market supply was still sufficient due to continuously released warrants. Spot premiums over the SHFE current-month aluminum price surged to near RMB 150/mt, but spot prices dropped nearly RMB 300/mt. Transactions slightly increased today due to stock replenishment at lower prices among downstream buyers and middlemen.

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