South China Aluminum: Prices Become More Resilient to Declines over Increased Purchases -Shanghai Metals Market

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South China Aluminum: Prices Become More Resilient to Declines over Increased Purchases

SMM Insight 03:09:30PM Jan 05, 2012 Source:SMM

SHANGHAI, Jan. 5 (SMM) – SHFE aluminum prices presented a weak track due to a lack of upward momentum and struggled around moving averages on Thursday. Although more goods arrived in spot aluminum market in South China during the New Year’s holiday, the added goods were soon consumed due to the previous low stocks and replenishment by downstream processors ahead of Chinese New Year. As a result, some cargo holders were not willing to move goods at lower prices and spot prices became more resilient to declines, with main transactions done at RMB 16,010-16,030/mt. Transactions were relatively active on Thursday.

Key Words:  South China   aluminum prices 

South China Aluminum: Prices Become More Resilient to Declines over Increased Purchases

SMM Insight 03:09:30PM Jan 05, 2012 Source:SMM

SHANGHAI, Jan. 5 (SMM) – SHFE aluminum prices presented a weak track due to a lack of upward momentum and struggled around moving averages on Thursday. Although more goods arrived in spot aluminum market in South China during the New Year’s holiday, the added goods were soon consumed due to the previous low stocks and replenishment by downstream processors ahead of Chinese New Year. As a result, some cargo holders were not willing to move goods at lower prices and spot prices became more resilient to declines, with main transactions done at RMB 16,010-16,030/mt. Transactions were relatively active on Thursday.

Key Words:  South China   aluminum prices