East China Aluminum: Trading Picks Up on Pre-Holiday Restocking-Shanghai Metals Market

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East China Aluminum: Trading Picks Up on Pre-Holiday Restocking

SMM Insight 02:05:15PM Jun 05, 2013 Source:SMM

SHANGHAI, Jun. 5 (SMM) – Spot aluminum was traded at RMB 14,850-14,860/mt in Shanghai on Wednesday, a discount of RMB 0-10/mt and premium of RMB 0-10/mt over SHFE 1306 aluminum contract prices. Low-iron aluminum was traded around RMB 14,980/mt. The high-end SHFE 1306 aluminum contract prices rose, allowing traders to hold offers level with SHFE current-month aluminum contract prices. Downstream producers began to restock modestly for the upcoming Chinese Dragon Boat Festival and middlemen were also active in buying, keeping mainstream traded prices stable at RMB 14,850/mt. Overall trading picked up slightly from a day earlier.  
 

Price

more
Aluminum Ingot
Oct.18
14000.0
40.0
(0.29%)
Aluminum Ingot - Fo Shan
Oct.18
13960.0
30.0
(0.22%)
Aluminum Ingot - Wu Xi
Oct.18
14000.0
20.0
(0.14%)
Aluminum Ingot - Hang Zhou
Oct.18
14040.0
55.0
(0.39%)
Aluminum Ingot - Chong Qing
Oct.18
13980.0
60.0
(0.43%)

East China Aluminum: Trading Picks Up on Pre-Holiday Restocking

SMM Insight 02:05:15PM Jun 05, 2013 Source:SMM

SHANGHAI, Jun. 5 (SMM) – Spot aluminum was traded at RMB 14,850-14,860/mt in Shanghai on Wednesday, a discount of RMB 0-10/mt and premium of RMB 0-10/mt over SHFE 1306 aluminum contract prices. Low-iron aluminum was traded around RMB 14,980/mt. The high-end SHFE 1306 aluminum contract prices rose, allowing traders to hold offers level with SHFE current-month aluminum contract prices. Downstream producers began to restock modestly for the upcoming Chinese Dragon Boat Festival and middlemen were also active in buying, keeping mainstream traded prices stable at RMB 14,850/mt. Overall trading picked up slightly from a day earlier.