Metals News
East China Aluminum: Spot Discounts Remain Prior to Delivery
smm insight
01:29PM
Jul 16,2012
Source:SMM

SHANGHAI, Jul. 16 (SMM) – Mainstream traded prices of spot aluminum in Shanghai were between RMB 15,580-15,620/mt Monday, with spot discounts over the SHFE current-month aluminum contract price remaining at RMB 50-80/mt, and low-iron aluminum was traded between RMB 15,680-15,700/mt in Shanghai. SHFE aluminum prices rose along with other metals but with limited upward room and gave back some gains later. Consumption in spot aluminum market was rather weak, with spot discounts remaining despite the upcoming delivery for the SHFE current-month aluminum contract. Many traders bought deliverable brands to make a profit through arbitrage. However, prices for deliverable brands remained firm, leaving overall trading modest.

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