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Aluminum - SHMET Import Market Briefing 20171011

Date 10/11/2017 5:09:02 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 $25C. SHFE Spot/LME 3M arb flattened out at 7.56, suggesting importing may lose around RMB1196/mt in spot market and RMB1162/mt in forward market.

Aluminum remains volatile and market news maintains calm. Both longs and shorts are still waiting for the game between stocks and policy to view the subsequent price direction. Import conditions remain depressed as the import window is not open. Traders are expected to mainly step aside for the time being and the premium quotation remains unchanged. 

Edited by SHMET