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East China Aluminum: Discount Widens due to Strong Bearish Sentiment
Nov 8,2011 16:09CST
smm insight
Source:SMM
Shanghai spot aluminum was traded between RMB 16,200-16,240/mt on November 8th, with discounts of RMB 30/mt to premiums of RMB 10/mt over the SHFE current-month aluminum price.

SHANGHAI, Nov. 8 (SMM) -- Traded prices of spot aluminum in Shanghai were between RMB 16,200-16,240/mt on November 8th, with discounts of RMB 30/mt to premiums of RMB 10/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,270-16,300/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 16,160-16,200/mt. With stagnating SHFE aluminum prices, spot discounts over the SHFE current-month aluminum price widened due to weak demand. Transactions, however, were sparse.

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