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

Hot Keywords

  • Zinc
  • Nickel
  • Market commentary
  • Copper scrap
  • Aluminium
  • Copper
  • Inventory data
  • Nickel sulphate
  • NPI
  • Futures movement
  • Rare earth
  • Production data
  • Lead
  • Iron ore
  • Excavator

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 

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