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Home / Metal News / East China Aluminum: Consumers Build up Inventories as Futures Prices Gain

East China Aluminum: Consumers Build up Inventories as Futures Prices Gain

iconAug 3, 2011 13:30
Source:SMM
SHANGHAI, Aug. 3 (SMM) – Traded prices of spot aluminum in Shanghai on August 3rd were between RMB 18,640-18,660/mt

SHANGHAI, Aug. 3 (SMM) – Traded prices of spot aluminum in Shanghai on August 3rd were between RMB 18,640-18,660/mt, with premiums of positive RMB 40-60/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 18,740-18,760/mt. Traded prices of spot aluminum in Wuxi were between RMB 18,630-18,660/mt. As SHFE aluminum prices gained over 1% despite falling of other metals prices, spot aluminum prices rebounded to above RMB 18,600/mt in response. Selling interest at higher prices was high among goods holders. Purchases among consumers also slightly increased in order to build up inventories. Market transactions were significantly improved compared with previous trading day.


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