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South China Aluminum: Supply Shortage Boosts Confidence for RMB 18,000/mt
Jul 19,2011 15:31CST
smm insight
Source:SMM
SHANGHAI, Jul. 19 (SMM) – SHFE aluminum prices opened higher and broke RMB 17,700/mt on July 19, but began to lose support afterwards.

SHANGHAI, Jul. 19 (SMM) – SHFE aluminum prices opened higher and broke RMB 17,700/mt on July 19, but began to lose support afterwards. However, spot aluminum prices climbed to above RMB 17,900/mt as cargo holders were holding goods. Mainstream traded prices were between RMB 17,900-17,950/mt. Though purchasers kept buying on an as-needed basis, supply shortage still sent spot aluminum prices higher with even no supply reported. The supply shortage also boosted market confidence for aluminum prices to reach RMB 18,000/mt.


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