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East China Aluminum: Bearish Sentiment Strong, Transactions Extremely Limited
Sep 14,2011 16:48CST
smm insight
Source:SMM
Traded prices of spot aluminum in Shanghai were between RMB 17,760-17,790/mt on September 14th, with discounts of RMB 0-20/mt over SHFE current-month aluminum prices.

SHANGHAI, Sept. 14 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 17,760-17,790/mt on September 14th, with discounts of RMB 0-20/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 17,800-17,850/mt. Traded prices of spot aluminum in Wuxi were between RMB 17,730-17,790/mt. Dropping SHFE aluminum price following a higher opening led to strong bearish sentiment in the spot aluminum market, with purchases rarely seen from downstream and middlemen staying away. Though goods holders lowered their quotations to even discounted prices, market transactions remained extremely limited.

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