East China Aluminum: Spot Discounts Disappear as Delivery Date of Current-Month Contracts Approaches-Shanghai Metals Market

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East China Aluminum: Spot Discounts Disappear as Delivery Date of Current-Month Contracts Approaches

SMM Insight 01:00:39PM Jan 09, 2013 Source:SMM

SHANGHAI, Jan. 9 (SMM) – Spot aluminum was mainly traded at RMB 15,040-15,060/mt in Shanghai on Wednesday, with discounts at RMB 10-30/mt. Low-iron aluminum was traded at RMB 15,090-15,110/mt. SHFE 1303 aluminum contract prices were rangebound, prompting cargo holders to move goods at prices flat with the current-month contracts prior to the delivery date of the 1301 aluminum contracts. Low buying interest from downstream producers and middlemen brought traded prices down. Cloudy market direction depressed overall trading.
 

East China Aluminum: Spot Discounts Disappear as Delivery Date of Current-Month Contracts Approaches

SMM Insight 01:00:39PM Jan 09, 2013 Source:SMM

SHANGHAI, Jan. 9 (SMM) – Spot aluminum was mainly traded at RMB 15,040-15,060/mt in Shanghai on Wednesday, with discounts at RMB 10-30/mt. Low-iron aluminum was traded at RMB 15,090-15,110/mt. SHFE 1303 aluminum contract prices were rangebound, prompting cargo holders to move goods at prices flat with the current-month contracts prior to the delivery date of the 1301 aluminum contracts. Low buying interest from downstream producers and middlemen brought traded prices down. Cloudy market direction depressed overall trading.