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SRB to Invite Bid for Aluminum & Zinc Reserve Purchase, Jinchuan Raises Nickel Price
Mar 14,2013 17:01CST
smm insight
Source:SMM
The SRB will invite bid this Friday to buy 300,000 mt of primary aluminum reserves.

SHANGHAI, Mar. 14 (SMM) - The SRB will invite bid this Friday to buy 300,000 mt of primary aluminum reserves. According to two people from two smelters said their companies had received the bidding document.

They reported the smelters invited can bid for the purchase this Friday. The SRB built 100,000 mt of primary aluminum in mid-November 2012. SMM believes aluminum reserves purchase will not affect the market significantly due to massive trading inventories.

SMM sources also report that the SRB plans to buy 50,000 mt of zinc ingot reserves and invite bid this Friday. The market takes a wait-and-see attitude. Smelters continued to hold goods, and downstream buying interest was also low.

LME nickel prices advanced for the third consecutive days. Jinchuan raised its nickel prices by RMB to 1,000/mt, to RMB 118,000/mt.
 

primary aluminum reserves
zinc ingot reserves

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