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East China Aluminum: Purchases Remain Sluggish Despite Lower Quotes
Aug 25,2011 13:01
CSTsmm insight
Source:SMM
Trading prices of spot aluminum in Shanghai were between RMB 17,760-17,790/mt, with premiums of positive RMB 190-220/mt over SHFE current-month aluminum prices. Transactions extremely limited.
SHANGHAI, Aug. 25 (SMM) -- Trading prices of spot aluminum in Shanghai were between RMB 17,760-17,790/mt, with premiums of positive RMB 190-220/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 17,800-17,840/mt. Trading prices of spot aluminum in Wuxi were between RMB 17,740-17,790/mt. As SHFE aluminum prices stagnated, goods holders successively lowered their quotes to attract buyers, but ended with extremely limited transactions due to month-end capital pressure at downstream enterprises.
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