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East China Aluminum: Spot Discounts Narrow on Expectations for Stock Replenishment

iconSep 19, 2012 14:30
Source:SMM
Spot aluminum was mainly traded between RMB 15520-15540/mt in Shanghai on Wednesday, with discounts between RMB 120-100/mt.

SHANGHAI, Sept. 19 (SMM) – Spot aluminum was mainly traded between RMB 15,520-15,540/mt in Shanghai on Wednesday, with discounts between RMB 120-100/mt. Low-iron aluminum was traded between 15,600-15,620/mt. The most active aluminum contract bucked the trend by edging down while other base metals rose. Spot aluminum prices were resilient to declines and spot discounts narrowed to RMB 100/mt due to cargo holders' strong expectations that downstream producers will replenish stocks before the imminent Mid-autumn Festival and National Day holiday. Buying interest, however, was low, which prompted some traders to move goods with lower quotations. Traded prices of spot aluminum were down as a result. Overall trading was thin. 
 

Shanghai spot aluminum prices

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