East China Aluminum: Transactions Limited Are with More Spot Goods Quoted Close to Futures Prices -Shanghai Metals Market

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East China Aluminum: Transactions Limited Are with More Spot Goods Quoted Close to Futures Prices

SMM Insight 01:26:14PM Apr 10, 2012 Source:SMM

SHANGHAI, Apr. 10 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 16,000-16,030/mt on Tuesday, with discounts of RMB 10/mt to premiums of RMB 20/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,100-16,120/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 16,020-16,040/mt. SHFE aluminum prices lacked momentum to rebound, with the SHFE current-month aluminum price hovering between RMB 16,010-16,020/mt. In domestic spot markets, most cargo holders offered close to futures prices, but purchases by downstream buyers were limited with more goods available in the market, restricting expansion of spot premiums. Mainstream transactions were done at RMB 16,010/mt.
 

East China Aluminum: Transactions Limited Are with More Spot Goods Quoted Close to Futures Prices

SMM Insight 01:26:14PM Apr 10, 2012 Source:SMM

SHANGHAI, Apr. 10 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 16,000-16,030/mt on Tuesday, with discounts of RMB 10/mt to premiums of RMB 20/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,100-16,120/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 16,020-16,040/mt. SHFE aluminum prices lacked momentum to rebound, with the SHFE current-month aluminum price hovering between RMB 16,010-16,020/mt. In domestic spot markets, most cargo holders offered close to futures prices, but purchases by downstream buyers were limited with more goods available in the market, restricting expansion of spot premiums. Mainstream transactions were done at RMB 16,010/mt.