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South China Aluminum: Trading Market Still Quiet with Stalemate in Market
Oct 27,2011 16:03CST
smm insight
Source:SMM
The most active SHFE aluminum contract stabilized with slight increase on Thursday, but met resistance at RMB 16,500/mt.

SHANGHAI, Oct. 27 (SMM) The most active SHFE aluminum contract stabilized with slight increase on Thursday, but met resistance at RMB 16,500/mt. Cargo holders in spot aluminum market in south China were active in selling goods but were reluctant to sell at low prices. Whereas downstream buyers just purchased as needed and were more interested in buying at low prices, leaving stalemate in the market. Mainstream transactions were done at RMB 16,480-16,500/mt, with trading market still quiet.

SHFE aluminum; spot aluminum

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