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East China Aluminum: Traders Selling Interest Low after Futures Plunge
Aug 4,2011 15:01CST
smm insight
Source:SMM
SHANGHAI, Aug. 4 (SMM) – Trading prices spot aluminum in Shanghai were between RMB 18,400-18,430/mt on August 4th,

SHANGHAI, Aug. 4 (SMM) – Trading prices spot aluminum in Shanghai were between RMB 18,400-18,430/mt on August 4th, with premiums of positive RMB 50-80/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 18,510-18,530/mt. Trading prices of spot aluminum in Wuxi were between RMB 18,390-18,420/mt. In the morning, SHFE aluminum prices plunged with a huge 3% loss reported within ten minutes, and later stabilized to close at RMB 18,140/mt. Traders were unwilling to sell goods due to low prices, and middlemen were purchasing actively. Overall market transactions were moderate.


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