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South China Aluminum: Scarce Supply Pushes Spot Price to New High
Jul 26,2011 15:37CST
smm insight
Source:SMM
SHANGHAI, Jul. 26th (SMM) – As most active SHFE aluminum contract prices surged towards RMB 18,000/mt, spot aluminum prices in south China rose in response

SHANGHAI, Jul. 26th (SMM) – As most active SHFE aluminum contract prices surged towards RMB 18,000/mt, spot aluminum prices in south China rose in response to test RMB 18,300/mt. Mainstream traded prices in the area were between RMB 18,250-18,290/mt. Local spot aluminum supply remained scarce, with quotes above RMB 18,300/mt even reported. However, downstream purchases lagged behind due to month-end capital pressure, and only a few purchases at lower prices were reported. Goods holders remained optimistic towards aluminum prices in the future.


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