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South China Aluminum: Prices Cannot Resist Declines over Dropping Consumption
Nov 16, 2011 14:24Source:SMM
The most active SHFE aluminum contract prices suffered continuous drop as European debt crisis intensified.
SHANGHAI, Nov. 16 (SMM) -- The most active SHFE aluminum contract prices suffered continuous drop as European debt crisis intensified. Bearish mood increased in spot aluminum market on Wednesday, and buying interest declined among downstream buyers in South China, leading to higher supply. Aluminum prices could not resist declines. Mainstream transactions were done at RMB 16,230-16,270/mt, with premiums over Shanghai aluminum prices dropping below positive RMB 200/mt. Transactions were quiet on Wednesday.
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