East China Aluminum: Spot Discounts Narrow with Few Purchases by Middlemen-Shanghai Metals Market

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East China Aluminum: Spot Discounts Narrow with Few Purchases by Middlemen

SMM Insight 01:22:26PM Feb 13, 2012 Source:SMM

SHANGHAI, Feb. 13 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,900-15,940/mt on Monday, with discounts of RMB 30-70/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 15,980-16,020/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,860-15,890/mt. SHFE aluminum prices were under pressure on Monday. With the approach of delivery day, spot discounts over the SHFE current-month aluminum price. Purchases by middlemen were rare due to the lack of room for arbitrage. Meanwhile, downstream consumption remained soft, so aluminum prices hovered around RMB 15,900/mt. Trading market was quiet in general.

Key Words:  East China   aluminum prices 

Price

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#1 Refined Cu
Apr.22
49450.0
20.0
(0.04%)
Yangshan Copper Premium(Bill of Lading)
Apr.22
51.5
0.0
(0.00%)
Yangshan Copper Premium(Warehouse Warrant)
Apr.22
50.5
0.0
(0.00%)
Imported Cu Concentrate TC(Cu≥26%,Week)
Apr.19
67.0
-1.5
(-2.19%)
Imported Cu Concentrate TC(Cu≥26%,Month)
Mar.29
73.5
-6.0
(-7.55%)

East China Aluminum: Spot Discounts Narrow with Few Purchases by Middlemen

SMM Insight 01:22:26PM Feb 13, 2012 Source:SMM

SHANGHAI, Feb. 13 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,900-15,940/mt on Monday, with discounts of RMB 30-70/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 15,980-16,020/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,860-15,890/mt. SHFE aluminum prices were under pressure on Monday. With the approach of delivery day, spot discounts over the SHFE current-month aluminum price. Purchases by middlemen were rare due to the lack of room for arbitrage. Meanwhile, downstream consumption remained soft, so aluminum prices hovered around RMB 15,900/mt. Trading market was quiet in general.

Key Words:  East China   aluminum prices