SHFE aluminum fell to a two and a half month new low

Date 10/11/2018 5:20:09 PM Source: SHMET
SHANGHAI, Oct 11 (SHMET) –SHFE aluminum is expected to trade in a weak tone in the short term as alumina price fell and domestic inventories remained high. Cost support also weakened. SHFE 3M contract fell more than 2% to a two and a half month low level.

Discounts and premiums quoted by traders unchanged from yesterday. SHFE cash aluminum was quoted 14,170-14,210 yuan/mt, down 220 yuan/mt. Discount against 1810 contract was 50-10 yuan/mt. The middlemen were increasingly active to trade and the overall market performance was fair.

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