Aluminum - SHMET Import Market Briefing 20170811

Date 8/11/2017 4:14:39 PM Source: SHMET

Traders reported that spot premiums CIF shanghai climbed up to $100-$120, so did physical warrants, which proves to be the best performance for aluminum since months. LME C-3m valued yesterday slipped sharply to 5C. SHFE Spot/LME 3M arb went down slightly to 7.82, suggesting importing may lose around RMB980/mt in spot market and RMB790/mt in forward market. Expect the domestic ingot inventory continue to be digested as import arb ratio will remain firmly negative. All these may cap rallies of import volume without any better trading activities occurred but a few inquiries from traders now and then. Domestic cargos are favorable by participators without much buying interests.

Edited by SHMET