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South China Aluminum: Market Sentiment Low, Premiums Narrow
Sep 14,2011 16:56CST
smm insight
Source:SMM
Mainstream traded prices in the region fell to RMB 17,820-17,840/mt, narrowing premiums over Shanghai spot prices to near RMB 50/mt.

SHANGHAI, Sept. 14 (SMM) – Worsening debt crisis in Europe also damped domestic aluminum market sentiment, with most active SHFE aluminum contract dropping in the afternoon following a higher opening price. This in turn led to even more sluggish transactions in South China aluminum market. Though goods holders actively touted their goods, buying interest was low even at lower prices. Purchases in the region were mainly made on an as-needed basis. As a result, mainstream traded prices in the region fell to RMB 17,820-17,840/mt, narrowing premiums over Shanghai spot prices to near RMB 50/mt.

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