Home / Metal News / East China Aluminum: Spot Premiums Narrowed on Low Buying Interest

East China Aluminum: Spot Premiums Narrowed on Low Buying Interest

iconDec 6, 2011 13:44
Source:SMM
Traded prices of spot aluminum in Shanghai were between RMB 16,200-16,230/mt on Tuesday.

SHANGHAI, Dec. 6 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 16,200-16,230/mt on Tuesday, with premiums of RMB 10-40/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,280-16,300/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 16,180-16,220/mt. The SHFE current-month aluminum price slipped and was pressured at the RMB 16,200/mt mark, inducing losses in spot aluminum prices. Goods holders intended to hold at RMB 16,200/mt, but spot premiums over the SHFE current-month aluminum price narrowed to RMB 10/mt due to the depressed downstream consumption. Some traders in urgent need for cash even moved goods below RMB 16,200/mt. Overall deals were limited as a result.

East China
Aluminum prices

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news