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Will SHFE Delivery Brand Expansion Hit Aluminum Prices? SMM Reports
Jun 23, 2016 09:21Source:SMM
The Shanghai Futures Exchange (SHFE) has approved Ganlv brand aluminum ingots produced by Gansu Dongxing Aluminum Co. as new delivery brand, the bourse said on its website yesterday.
SHANGHAI, Jun. 23 (SMM) – The Shanghai Futures Exchange (SHFE) has approved Ganlv brand aluminum ingots produced by Gansu Dongxing Aluminum Co. as new delivery brand, the bourse said on its website yesterday.
The approval will have little impact on aluminum prices, SMM aluminum analyst understands.
As long as aluminum stocks in China continued falling and spot premiums remain over SHFE front-month aluminum, smelters will have little intention of delivering aluminum to SHFE delivery warehouses, SMM explained.
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