Shanghai Metal Market
East China Aluminum: Pre-holiday Stock Building Ends, Goods Holders Wait
Edited by : AL CIRCLE
1 min read
Traded prices of spot aluminum in Shanghai were between RMB 17,110-17,150/mt on September 28th, with premiums of RMB 180-200/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 17,180-17,220/mt. Traded prices of spot aluminum in Wuxi were between RMB 17,100-17,130/mt. Stock building before the coming National Day holiday has already ended, therefore inquiries and purchases were rarely seen. With the SHFE current-month aluminum contract struggling at RMB 17,000/mt and spot aluminum inventories staying at low levels, the wait-and-see sentiment gained strength among goods holders, keeping spot premiums over the SHFE current-month aluminum price near RMB 200/mt. Market transactions were sparse during the day as sellers and buyers argued over prices.
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