East China Aluminum: Clearance Sale Leads to Limited Price Increase

SMM Insight 02:05:46PM Jan 11, 2012 Source:SMM

SHANGHAI, Jan. 11 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,970-16,010/mt on Wednesday, with discounts of RMB 70-100/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,100-16,160/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,940-15,980/mt. Despite the continuous rise in SHFE aluminum prices, spot aluminum prices resisted to increase over weak consumption. Many goods holders were still clearing stocks ahead of the Chinese New Year holiday. In this context, spot discounts over the SHFE current-month aluminum price expanded. Only some high quality aluminum ingots were in short supply, with relatively stable prices. Transactions remained limited in markets.
 

Key Words:  aluminum prices   East China 

East China Aluminum: Clearance Sale Leads to Limited Price Increase

SMM Insight 02:05:46PM Jan 11, 2012 Source:SMM

SHANGHAI, Jan. 11 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,970-16,010/mt on Wednesday, with discounts of RMB 70-100/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,100-16,160/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,940-15,980/mt. Despite the continuous rise in SHFE aluminum prices, spot aluminum prices resisted to increase over weak consumption. Many goods holders were still clearing stocks ahead of the Chinese New Year holiday. In this context, spot discounts over the SHFE current-month aluminum price expanded. Only some high quality aluminum ingots were in short supply, with relatively stable prices. Transactions remained limited in markets.
 

Key Words:  aluminum prices   East China