Aluminum – Export sharply increased in Feb. as Trump’s tariff policy confirmed

Date 3/12/2018 4:12:23 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 $20.25C. SHFE Spot/LME 3M arb flattened out at 6.61, suggesting importing may lose around RMB2532mt in spot market and RMB2496/mt in forward market.

Prices are barely impacted from the perspective of policies on aluminum market, with the aluminum inventory remaining in high level in a short term. Cost of electrolytic aluminum is around RMB14000/mt. Premium market sentiment remains in a lackluster state, with traders keeping stepping aside for the time being. 

Edited by SHMET