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East China Aluminum: Market Transactions Sluggish as Most Buyers Stay Away
Sep 6,2011 13:28CST
smm insight
Source:SMM
Trading prices of spot aluminum in Shanghai were between RMB 17,700-17,740/mt on September 6th. Market transactions were sluggish as most buyers exited the market.

SHANGHAI, Sept. 6 (SMM) – Trading prices of spot aluminum in Shanghai were between RMB 17,700-17,740/mt on September 6th, with premiums of positive RMB 50-80/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 17,780-17,820/mt. Trading prices of spot aluminum in Wuxi were between RMB 17,720-17,780/mt. With a five-day loss in SHFE aluminum prices, most spot aluminum buyers chose to exit the market while most goods holders were actively touting their goods. Though spot quotes fell to lowest RMB 17,700/mt during the day, purchases in the market remained few, thereby leading to sluggish transactions during the day.

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