South China Aluminum: Transactions Improved after Holiday-Shanghai Metals Market

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South China Aluminum: Transactions Improved after Holiday

SMM Insight 03:34:07PM Jan 04, 2012 Source:SMM

SHANGHAI, Jan. 4 (SMM) – The most active SHFE aluminum contract prices gapped higher at RMB 15,990/mt on Wednesday and moved weakly below moving averages all day. Aluminum ingots in spot market in Nanhai were traded at RMB 16,010-16,030/mt, and transactions became more active. Traders were still not positive towards aluminum prices in the near terms. Meanwhile, according to traders, some downstream enterprises have already halted production for Chinese New Year. In Guangdong, the holiday for Chinese New Year has been advanced for many enterprises, reflecting the weak downstream demand.

Key Words:  South China   aluminum prices 

South China Aluminum: Transactions Improved after Holiday

SMM Insight 03:34:07PM Jan 04, 2012 Source:SMM

SHANGHAI, Jan. 4 (SMM) – The most active SHFE aluminum contract prices gapped higher at RMB 15,990/mt on Wednesday and moved weakly below moving averages all day. Aluminum ingots in spot market in Nanhai were traded at RMB 16,010-16,030/mt, and transactions became more active. Traders were still not positive towards aluminum prices in the near terms. Meanwhile, according to traders, some downstream enterprises have already halted production for Chinese New Year. In Guangdong, the holiday for Chinese New Year has been advanced for many enterprises, reflecting the weak downstream demand.

Key Words:  South China   aluminum prices