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Home / Metal News / East China Aluminum: Spot Prices Further Dip after Futures Prices Plunge

East China Aluminum: Spot Prices Further Dip after Futures Prices Plunge

Jul 29, 2011 15:02

Source:SMM

SHANGHAI, Jul. 29 (SMM) -- Traded prices of spot aluminum in Shanghai on July 29th were between RMB 18,450-18,550/mt

SHANGHAI, Jul. 29 (SMM) -- Traded prices of spot aluminum in Shanghai on July 29th were between RMB 18,450-18,550/mt, with premiums of positive RMB 40-60/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 18,500-18,580/mt. Traded prices of spot aluminum in Wuxi were between RMB 18,440-18,540/mt. As SHFE aluminum prices opened lower and moved downward with even short-term plunge reported, spot aluminum prices further dipped. Though goods holders increased their supplies, purchases were rare as today is the last trading day of July. Both suppliers and buyers have turned cautious after aluminum prices plunged.

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