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East China Aluminum: Buying Interest Low, Selling Interest High, Transactions Rare
Oct 17,2011 13:58CST
smm insight
Source:SMM
Traded prices of spot aluminum in Shanghai were between RMB 16,860-16,890/mt on October 17th, at discounts of RMB 0-30/mt over the SHFE current-month aluminum price.

SHANGHAI, Oct. 17 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 16,860-16,890/mt on October 17th, at discounts of RMB 0-30/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,940-16,960/mt. Traded prices of spot aluminum in Wuxi were between RMB 16,830-16,860/mt. Lower-end prices of the SHFE current-month aluminum contract slipped this last trading day before the delivery date, and with weak downstream demand, spot premiums over the contract changed to discounts. Due to pessimism towards aluminum prices during the fourth quarter, most traders actively lower their quotations to attract buyers, but transactions remained quite sparse.

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