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