SHANGHAI, Jun 12 (SMM) – With less than a week before the expiry of the front-month contract on the Shanghai Futures Exchange, Shanghai spot aluminium premiums held firm on Wednesday June 12, which kept buyers on the sidelines.
Traded prices in Shanghai were mostly heard at 14,050-14,070 yuan/mt this morning, barely changed from Tuesday morning. The prices maintained a firm premium over the SHFE 1906 contract, of 10-20 yuan/mt.
Deals occurred at 14,050-14,070 yuan/mt in Wuxi and 14,080-14,100 yuan/mt in Hangzhou this morning.
Trades across the southern markets outperformed those in the eastern markets, as supply tightness in Guangdong drove traders to purchase.
Traded prices mostly occurred at 14,170-14,180 yuan/mt in Guangdong this morning, with the spread with Shanghai prices at 110 yuan/mt.