Shanghai Metal Market
East China Aluminum: Middleman Purchases at Lower Prices Rise with Lower Capital Pressure
Edited by : AL CIRCLE
1 min read
Trading prices of spot aluminium in Shanghai were between RMB 17,820-17,860/mt on Sept. 1st, with premiums of RMB 50-100/mt over SHFE current-month aluminium prices. Low-iron aluminium was traded between RMB 17,860-17,900/mt. Trading prices of spot aluminium in Wuxi were between RMB 17,800-17,850/mt. Purchases at lower prices increased during the day after capital pressure slightly alleviated among middlemen. Upward space of spot aluminium prices were limited, however, due to disappointing SHFE aluminium prices, with spot premiums narrowing to within RMB 100/mt. Mainstream trading prices of spot aluminium in Wuxi also fell to near RMB 17,800/mt following weakening aluminium futures. Overall market transactions saw significant improvement during the day.
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