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South China Aluminum: Falling Prices Attract Middlemen
Aug 23,2011 17:15
CSTsmm insight
Source:SMM
Mainstream trading prices of spot aluminum in Guangdong moved down to RMB 17,930-17,960/mt due to sluggish downstream consumption, overall market transactions were moderate.
SHANGHAI, Aug. 23 (SMM) – Most active SHFE 1111 aluminum contract prices fluctuated at the closing prices of previous trading day on August 23rd, and mainstream trading prices of spot aluminum in Guangdong moved down to RMB 17,930-17,960/mt due to sluggish downstream consumption. However, with some middlemen actively buying at lower prices to build up inventories, mainstream trading prices rebounded again, which in turn dampened buying interest. Overall market transactions were moderate during the day.
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