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China Shanxi spot alumina firms Yuan 30/mt to Yuan 2,830/mt

https://www.chemnet.com   Jan 18,2018 Platts
The Platts ex-works Shanxi daily spot alumina assessment firmed Yuan 30/mt ($4.70/mt) on Wednesday to Yuan 2,830/mt cash, on a bid-ask spread of mostly Yuan 2,800-2,850/mt. The current level also reflected an increase of Yuan 30/mt on the week and from a month ago.

A south China smelter said Wednesday that he bought 10,000-20,000 mt of Shanxi spot at "slightly below Yuan 2,800/mt cash" earlier this week, and put his current buy idea at Yuan 2,800/mt maximum.

Spot offers were heard at Yuan 2,850-2,900/mt cash to partial credit terms, against buyers' guidance at Yuan 2,750-2,800/mt.

"Offers are still mostly high around Yuan 2,900/mt partial credit now, after 30,000 mt changed hands between two refiners earlier in the week at that level ex-works Shandong," a Henan refiner said. "So, doable cash levels now are likely lower at Yuan 2,800-2,850/mt," he added.

Spot trades, however, are expected to remain generally thin in the near term as market participants eyed fresh direction ahead of the Lunar New Year holidays in mid-February, and as domestic metal prices fell back this week.

The front-month primary aluminum contract on the Shanghai Futures Exchange closed at Yuan 14,545/mt, down from Yuan 14,655/mt on Tuesday, and also from Yuan 15,050/mt on Monday.

"Everyone is cautious, since metal prices fell, especially alumina buyers," a Beijing trader said.
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