SHFE Approves 12 Warehouses for Aluminum Delivery

SHANGHAI, Mar. 2 (SMM) – The Shanghai Futures Exchange (SHFE) announced March 1 that it has approved 12 warehouses from eight companies for aluminum delivery. 

This move will expand capacity of SHFE aluminum delivery warehouses by 175,000 tonnes, according to the SHFE website. These newly approved delivery warehouses will be allowed to generate aluminum warrants for futures delivery from February 16, 2017.   

These newly approved warehouses are located in Henan, Shandong, Chongqing and Tianjin, the SHFE said in a statement. 

The move is aimed at better serving transfer of aluminum industry, a SHFE official said. At present, China’s aluminum producing regions are concentrated in northwest, southwest and central parts of the country, while aluminum consumption is shifting from Guangdong, Zhejiang to Chongqing, Henan, Shandong, Beijing, Tianjin and Hebei, China Securities Net reported. 

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