East China Aluminum: Middlemen Buy Spot Aluminum while Selling off SHFE Aluminum-Shanghai Metals Market

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East China Aluminum: Middlemen Buy Spot Aluminum while Selling off SHFE Aluminum

SMM Insight 01:25:40PM Jan 22, 2013 Source:SMM

SHANGHAI, Jan. 22 (SMM) – Spot aluminum was mainly traded at RMB 14,950-14,960/mt in Shanghai on Tuesday, with discounts at RMB 120-130/mt. Low-iron aluminum was traded at RMB 15,040-15,050/mt. Arrivals of spot aluminum were limited in east China due to transportation delays, but oversupply pressure remained as downstream buying interest was low. SHFE 1303 aluminum contract prices bucked the trend by falling among base metals, continuing to dampen market sentiment. High spot discounts stimulated some middlemen to buy spot aluminum while selling off SHFE aluminum contracts. Spot aluminum prices stagnated at RMB 14,950/mt and the growth in trading volumes was limited.
 

East China Aluminum: Middlemen Buy Spot Aluminum while Selling off SHFE Aluminum

SMM Insight 01:25:40PM Jan 22, 2013 Source:SMM

SHANGHAI, Jan. 22 (SMM) – Spot aluminum was mainly traded at RMB 14,950-14,960/mt in Shanghai on Tuesday, with discounts at RMB 120-130/mt. Low-iron aluminum was traded at RMB 15,040-15,050/mt. Arrivals of spot aluminum were limited in east China due to transportation delays, but oversupply pressure remained as downstream buying interest was low. SHFE 1303 aluminum contract prices bucked the trend by falling among base metals, continuing to dampen market sentiment. High spot discounts stimulated some middlemen to buy spot aluminum while selling off SHFE aluminum contracts. Spot aluminum prices stagnated at RMB 14,950/mt and the growth in trading volumes was limited.