South China Aluminum: Transactions Muted over Short Supply and Weak Demand-Shanghai Metals Market

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South China Aluminum: Transactions Muted over Short Supply and Weak Demand

SMM Insight 03:43:43PM Jan 11, 2012 Source:SMM

SHANGHIA, Jan. 11 (SMM) – SHFE 1204 aluminum contract prices opened higher at RMB 16,150/mt and moved between RMB 16,170-16,220/mt on Wednesday. Spot prices for aluminum ingots in Nanhai were between RMB 16,050-16,070/mt. Despite some transactions done at RMB 16,080/mt, traded prices for mainstream transactions were at RMB 16,050/mt. According to traders, with less aluminum ingots arriving recently, spot premiums expanded. However, with downstream demand remaining weak, the premiums are not likely to sustain. Transactions were still muted on the whole.

Key Words:  South China   aluminum prices 

South China Aluminum: Transactions Muted over Short Supply and Weak Demand

SMM Insight 03:43:43PM Jan 11, 2012 Source:SMM

SHANGHIA, Jan. 11 (SMM) – SHFE 1204 aluminum contract prices opened higher at RMB 16,150/mt and moved between RMB 16,170-16,220/mt on Wednesday. Spot prices for aluminum ingots in Nanhai were between RMB 16,050-16,070/mt. Despite some transactions done at RMB 16,080/mt, traded prices for mainstream transactions were at RMB 16,050/mt. According to traders, with less aluminum ingots arriving recently, spot premiums expanded. However, with downstream demand remaining weak, the premiums are not likely to sustain. Transactions were still muted on the whole.

Key Words:  South China   aluminum prices