Shanghai bonded aluminium stocks tripled in August on brief opening of import arbitrage window between LME & SHFE
Aluminium stocks in Shanghai bonded warehouses increased three times in August from the previous month due to an increase in deliveries followed after the brief opening of arbitrage window between the London Metal Exchange and the Shanghai Futures Exchange in late July.
According to Fastmarkets assessment, Shanghai bonded aluminium stocks stood at 7,500-8,000 tonnes on Monday, August 31, higher by 5,000-5,500 tonnes from 2,000-3,000 tonnes on July 31.
The aluminium import arbitrage window in China opened on July 30, with profits widening to $33.48 per tonne on August 3 before flipping to a loss the next day and remaining closed since then.
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