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Home / Metal News / East China Aluminum: Spot Quotes Mix on Capital Pressure

East China Aluminum: Spot Quotes Mix on Capital Pressure

Aug 26, 2011 13:20

Source:SMM

Trading prices of spot aluminum in Shanghai on August 26th were between RMB 150-170/mt over SHFE current-month aluminum prices. Market transactions were rarely seen as consumption remained weak.

SHANGHAI, Aug. 26 (SMM) – Trading prices of spot aluminum in Shanghai on August 26th were between RMB 150-170/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 17,840-17,860/mt. Trading prices of spot aluminum in Wuxi were between RMB 17,780-17,840/mt. SHFE aluminum prices climbed in the morning session, but partially erased earlier gains during spot trading hours due to profit-taking. This, however, still boosted goods holder confidence with spot quotes being lifted. While on the contrary, due to month-end capital pressure, some goods holders lowered their quotes in order to attract buyers. Market transactions were rarely seen as consumption remained weak, with spot aluminum prices struggling at RMB 18,000/mt.

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