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Aluminum – Fundamentals provide no support for the rise of the aluminum price copper B/L being more popular

Date 4/16/2018 5:42:21 PM Source: SHMET

Traders reported that spot premiums CIF shanghai remained at level $120-$140 as usual, so did the physical warrants. LME C-3m valued edged to $7B. SHFE Spot/LME 3M arb flattened out at 6.30, suggesting importing may lose around RMB3302/mt in spot market and RMB3105/mt in forward market.

Today, aluminum price is unchanged from last week, and the premium remains high. The sentiment of sitting on the sidelines from the market participants has been on the rise and the profit of traders is limited, with limited trading volumes. The whole activity did not improve. 

Edited by SHMET