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Home / Metal News / Spot aluminium discounts flip into premiums ahead of delivery

Spot aluminium discounts flip into premiums ahead of delivery

Nov 13, 2018 13:51

Source:SMM

Most transactions were heard between discounts of 10 yuan/mt to premiums of 20 yuan/mt relative to the SHFE 1811 contract

SHANGHAI, Nov 13 (SMM) – Most transactions of spot aluminium in Shanghai were heard between discounts of 10 yuan/mt to premiums of 20 yuan/mt relative to the SHFE 1811 contract on Tuesday as the November delivery approaches.

The SHFE aluminium contract for November delivery traded rangebound in the morning. Most transactions in Shanghai occurred with discounts of up to 10 yuan/mt from the previous day.

Traded prices were heard at 13,720-13,740 yuan/mt in Shanghai and Wuxi and 13,730-13,750 yuan/mt in Hangzhou.

Transactions between traders were brisk. Overall trading liquidity across eastern markets improved from the previous day as sellers remained keen to offload cargoes and as downstream consumers were keen to purchase.

Market commentary

Aluminium

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