East China Aluminum: Price Spread between Deliverable and Non-Deliverable Aluminum Ingot Expands, Trading Up-Shanghai Metals Market

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East China Aluminum: Price Spread between Deliverable and Non-Deliverable Aluminum Ingot Expands, Trading Up

SMM Insight 01:21:08PM Feb 22, 2013 Source:SMM

SHANGHAI, Feb. 22 (SMM) – Spot aluminum was mainly traded at RMB 14,560-14,590/mt in Shanghai on Friday, with discounts at RMB 150-170/mt. Low-iron aluminum was traded around RMB 14,680/mt. A mild rally in SHFE 1305 aluminum contract prices attracted some middlemen to actively purchase branded deliverable aluminum ingot. Offers of deliverable aluminum ingot were firm due to tight supplies. Prices of non-deliverable aluminum ingot, on the other hand, were stagnant due to oversupply. Downstream consumption remained sluggish, but overall trading did improve from a day earlier.
 

East China Aluminum: Price Spread between Deliverable and Non-Deliverable Aluminum Ingot Expands, Trading Up

SMM Insight 01:21:08PM Feb 22, 2013 Source:SMM

SHANGHAI, Feb. 22 (SMM) – Spot aluminum was mainly traded at RMB 14,560-14,590/mt in Shanghai on Friday, with discounts at RMB 150-170/mt. Low-iron aluminum was traded around RMB 14,680/mt. A mild rally in SHFE 1305 aluminum contract prices attracted some middlemen to actively purchase branded deliverable aluminum ingot. Offers of deliverable aluminum ingot were firm due to tight supplies. Prices of non-deliverable aluminum ingot, on the other hand, were stagnant due to oversupply. Downstream consumption remained sluggish, but overall trading did improve from a day earlier.