SHFE approves ten warehouses for aluminium delivery

The Shanghai Futures Exchange (SHFE) announced March 1 that it has approved ten warehouses from eight companies for aluminium delivery.

This move will expand capacity of SHFE aluminium delivery warehouses by 175,000 tonnes, according to the SHFE website. These newly approved delivery warehouses will be allowed to generate aluminium warrants for futures delivery from February 16, 2017.

These newly approved warehouses are located in Henan, Shandong, Chongqing and Tianjin, the SHFE said in a statement.

The move is aimed at better serving transfer of aluminium industry, a SHFE official said. At present, China’s aluminium producing regions are concentrated in northwest, southwest and central parts of the country, while aluminium consumption is shifting from Guangdong, Zhejiang to Chongqing, Henan, Shandong, Beijing, Tianjin and Hebei, China Securities Net reported.

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