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East China Aluminum: Backwardation Narrows due to Growing Arrivals

iconOct 8, 2013 13:14
Source:SMM
The price gap between SHFE 1310 and 1311 aluminum contracts expanded to over RMB 100/mt, causing backwardation over SHFE current-month aluminum contract to narrow.
SHANGHAI, Oct. 8 (SMM) – The price gap between SHFE 1310 and 1311 aluminum contracts expanded to over RMB 100/mt, causing backwardation over SHFE current-month aluminum contract to narrow. Meanwhile, more aluminum ingot arrived after the holiday, also keeping aluminum prices in check. Consumption improved as downstream producers began to replenish stocks in the wake of the week-long holiday. Mainstream traded prices in Shanghai were RMB 14,590-14,610/mt on Tuesday, RMB 14,600-14,620/mt in Wuxi, and RMB 14,610-14,620/mt in Hangzhou. 
 
 
Shanghai aluminum

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