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East China Aluminum: Spot Quotes Mix, Spot Price Gains Limited
Aug 30,2011 14:11CST
smm insight
Source:SMM
Trading prices of spot aluminum in Shanghai were RMB 17,800-17,850/mt, with premiums of RMB 120-150/mt over SHFE current-month aluminum prices. Transactions were rare.

SHANGHAI, Aug. 30 (SMM) – Trading prices of spot aluminum in Shanghai were RMB 17,800-17,850/mt on August 30th, with premiums of RMB 120-150/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 17,860-17,900/mt. Trading prices of spot aluminum in Wuxi were between RMB 17,780-17,820/mt. Though SHFE aluminum prices opened higher and continued to gain with SHFE current-month aluminum prices climbing by nearly 0.5%, spot price gains were limited by weak consumption at month’s end. Spot quotes were mixed with some cargo-holders lowering their quotes to RMB 17,800/mt, thus dragging down mainstream trading prices. Market transactions were rare.

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