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Aluminum – the market entered the holiday mode

Date 2/12/2018 4:41:43 PM Source: SHMET

Traders reported that spot premiums CIF shanghai remained at level $95-$115 as usual, so did the physical warrants. LME C-3m valued edged to $2.25C. SHFE Spot/LME 3M arb flattened out at 6.52, suggesting importing may lose around RMB2697/mt in spot market and RMB2415/mt in forward market.

Spot trading volumes declined apparently. Market completely entered the holiday mode and the downstream nearly has no consumption, with stocks begin accumulating. Premium market sentiment remains depressed, with traders keeping stepping aside for the tome being.

 

Edited by SHMET