11 AUGUST 2011smm
East China Aluminum: Purchases Rare Due to Premiums and Approaching Delivery Date
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Trading prices of spot aluminum in Shanghai on August 11th were between RMB 18,080-18,120/mt, with premiums of positive RMB 0-50/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 18,100-18,140/mt. Trading prices of spot aluminum in Wuxi were between RMB 18,070-18,120/mt.
During spot trading hours, SHFE current-month aluminum prices struggled at RMB 18,100/mt, and goods holders actively increased supplies with slight premiums. However, with the delivery date approaching, buying interest rate was low among purchasers due to premiums. As a result, purchases were rare, which dragged down mainstream trading prices, market transactions were also rare.
During spot trading hours, SHFE current-month aluminum prices struggled at RMB 18,100/mt, and goods holders actively increased supplies with slight premiums. However, with the delivery date approaching, buying interest rate was low among purchasers due to premiums. As a result, purchases were rare, which dragged down mainstream trading prices, market transactions were also rare.
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