East China Aluminum: Spot and Futures Market Diverge-Shanghai Metals Market

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East China Aluminum: Spot and Futures Market Diverge

SMM Insight 04:11:49PM Jul 05, 2012 Source:SMM

SHANGHAI, Jul. 5 (SMM) – Traded prices of spot aluminum in Shanghai were mainly between RMB 15,700-15,720/mt Thursday, with spot discounts over the SHFE aluminum prices at RMB 50-70/mt, and low-iron aluminum was traded between RMB 15,800-15,820/mt in Shanghai. SHFE aluminum prices, little influenced by the decrease of LME aluminum prices, rose after opening flat, but spot aluminum prices did not rise accordingly, causing spot discounts to expand to RMB 70/mt. Although traders were aggressive in selling goods, downstream buyers stayed out of the market with trading muted.

Key Words:  spot aluminum   aluminum price 

East China Aluminum: Spot and Futures Market Diverge

SMM Insight 04:11:49PM Jul 05, 2012 Source:SMM

SHANGHAI, Jul. 5 (SMM) – Traded prices of spot aluminum in Shanghai were mainly between RMB 15,700-15,720/mt Thursday, with spot discounts over the SHFE aluminum prices at RMB 50-70/mt, and low-iron aluminum was traded between RMB 15,800-15,820/mt in Shanghai. SHFE aluminum prices, little influenced by the decrease of LME aluminum prices, rose after opening flat, but spot aluminum prices did not rise accordingly, causing spot discounts to expand to RMB 70/mt. Although traders were aggressive in selling goods, downstream buyers stayed out of the market with trading muted.

Key Words:  spot aluminum   aluminum price