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East China Aluminum: Spot Price Hit RMB 17,800/mt, Transactions Limited
Jul 21,2011 14:56CST
smm insight
Source:SMM
SHANGHAI, Jul. 21st (SMM) – Traded prices of spot aluminum in Shanghai on July 21st were between RMB 17,770-17,800/mt,

SHANGHAI, Jul. 21st (SMM) – Traded prices of spot aluminum in Shanghai on July 21st were between RMB 17,770-17,800/mt, with premiums of positive RMB 70-100/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 17,800-17,820/mt. Traded prices of spot aluminum in Wuxi were between RMB 17,750-17,780/mt. Though SHFE aluminum prices fell during the day, spot aluminum prices kept rising and hit RMB 17,800/mt as supported by tight supply. Purchases were reported at small volumes among middlemen, but were rarely seen among downstream buyers. Market transactions were limited despite active sentiment.


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