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Aluminum - SHMET Import Market Briefing

Date 11/14/2017 5:40:57 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 $18.9C. SHFE Spot/LME 3M arb flattened out at 7.34, suggesting importing may lose around RMB1840/mt in spot market and RMB1902/mt in forward market.

It has been reported that there are 3.89 billion tons of bauxite ore deposits in India, of which 656 million tons are economically recoverable reserves for 25 years. Domestic output of aluminum (electrolytic aluminum) in October was 2.55 million tons, a 7.5% decline year on year. From January to October, the output of aluminum (electrolytic aluminum) was 27.23 million tons, up 3.7 percent year on year. Today, electrolytic aluminum market sentiment remains weak and downstream plants are mainly purchasing on-demand. There is no obvious increase in the trading volumes, with speculators keeping stepping aside for the time being.

 

Edited by SHMET