Shanghai spot aluminium spread relative to the front month contract on the Shanghai Futures Exchange returned to a premium of 10-20 yuan/mt after the SHFE May contract expired, compared to a discount of 20-10 yuan/mt on Wednesday morning. With the SHFE June contract trading rangebound, spot deals in Shanghai were heard at 14,340-14,360 yuan/mt on the morning of Thursday, up 20 yuan/mt from the previous morning. Trades occurred at 14,340-14,360 yuan/mt in Wuxi and 14,350-14,370 yuan/mt in Hangzhou this morning. Higher spot prices and a premium over prices of futures kept sellers keen to offload cargoes, resulting in ... (full story)