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East China Aluminum: More Selling at Month’s End, Price Drop Evident in Wuxi
Aug 29,2011 15:05CST
smm insight
Source:SMM
Trading prices of spot aluminum in Shanghai were between RMB 17,760-17,790/mt, with premiums of positive RMB 140-170/mt over SHFE current-month aluminum prices. Transactions were sparse.

SHANGHAI, Aug. 29 (SMM) – Trading prices of spot aluminum in Shanghai were between RMB 17,760-17,790/mt, with premiums of positive RMB 140-170/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 17,720-17,760/mt. Spot aluminum prices fell as a result of drastic fluctuation in SHFE aluminum prices. Goods holders also actively lowered their quotes given weak consumption at the month’s end, with spot quotes in Wuxi falling the most to near RMB 17,700/mt. Market transactions were sparse.

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