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East China Aluminum: Transactions Rare as Downstream Buyers Stay Back
Sep 8,2011 14:57CST
smm insight
Source:SMM
Trading prices of spot aluminum in Shanghai were between RMB 17,800-17,830/mt on September 8th, with premiums of positive RMB 10-40/mt. Market transactions were rare.

SHANGHAI, Sept. 8 (SMM) -- Trading prices of spot aluminum in Shanghai were between RMB 17,800-17,830/mt on September 8th, with premiums of positive RMB 10-40/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 17,800-17,850/mt. Narrow range fluctuation in SHFE current-month aluminum price following a higher opening helped spot aluminum consolidate at above RMB 17,800/mt. However, as downstream buyers stayed back, mainstream trading prices quickly slipped. Market transactions were rarely seen.

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