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East China Aluminum: Offers Firm, Middlemen Active in Buying
Mar 9,2013 15:19CST
smm insight
Source:SMM
Spot aluminum was mainly traded at RMB 14,540-14,560/mt in Shanghai on Friday, with discounts at RMB 120-140/mt.

SHANGHAI, Mar. 9 (SMM) – Spot aluminum was mainly traded at RMB 14,540-14,560/mt in Shanghai on Friday, with discounts at RMB 120-140/mt. Low-iron aluminum was traded around RMB 14,710/mt. SHFE 1306 aluminum contract prices marched down after a high opening. News that the State Reserve Bureau will buy aluminum ingot allowed traders to hold offers firm at RMB 14,550/mt. Middlemen were actively buying due to high spot discounts, while buying interest downstream was limited. Discounts of some deliverable brand aluminum ingot over SHFE current-month aluminum contracts were a mere RMB 50/mt. Overall trading was moderate. 
 

Shanghai spot aluminum prices

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