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East China Aluminum: Spot Premiums Jump with Active Purchasers
Edited by : AL CIRCLE
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Today’s traded prices for spot aluminum in Shanghai were RMB 17,700-17,740/mt, with premiums of positive RMB 70-100/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 17,720-17,750/mt. Traded prices for spot aluminum in Wuxi were RMB 17,680-17,730/mt. As SHFE aluminum prices surged, spot aluminum prices climbed to above RMB 17,700/mt. Spot premiums over prices of SHFE current-month aluminum contract 1108 also jumped. With limited supply, the middlemen were actively buying goods. However, aluminum buyers in Wuxi were cautious towards purchases, with mainstream traded prices falling below RMB 17,700/mt. General market sentiment was active.
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