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South China Aluminum: Spot Prices Hit RMB 18,000, Transactions Rare
Aug 26, 2011 14:22Source:SMM
Mainstream trading prices of spot aluinum in South China were between RMB 17,960-18,000/mt, with most aluminum ingots traded at RMB 17,980/mt. Market transactions were rare.
SHANGHAI, Aug. 20 (SMM) – Spot aluminum prices in south China hit RMB 18,000/mt after most active SHFE aluminum contract prices climbed and broke through the 60-day moving average. However, mainstream trading prices gradually fell to RMB 17,960-18,000/mt later due to month-end weak consumption. Only low-iron aluminum was traded at RMB 18,000/mt and most aluminum ingots traded at RMB 17,980/mt. Overall market transactions were sluggish.
Spot aluminum prices
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