East China Aluminum: Transactions Muted ahead of Chinese New Year

SMM Insight 02:35:30PM Jan 12, 2012 Source:SMM

SHANGHAI, Jan. 12 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,980-16,010/mt on Thursday, with discounts of RMB 30-50/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,040-16,100/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,940-15,980/mt. The SHFE current-month aluminum price was firm above the RMB 16,000/mt mark. In domestic spot markets, buying interest remained low with the approach of the Chinese New Year. Meanwhile selling interest among goods holders dropped dramatically, with spot discounts over the SHFE current-month aluminum price narrowing to RMB 50/mt. A few imported aluminum ingots available in markets were quoted at RMB 15,940-15,960/mt. Despite the price advantage, transactions were limited. Trading market was quiet ahead of the holiday.
 

Key Words:  East China   aluminum prices 

East China Aluminum: Transactions Muted ahead of Chinese New Year

SMM Insight 02:35:30PM Jan 12, 2012 Source:SMM

SHANGHAI, Jan. 12 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,980-16,010/mt on Thursday, with discounts of RMB 30-50/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,040-16,100/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,940-15,980/mt. The SHFE current-month aluminum price was firm above the RMB 16,000/mt mark. In domestic spot markets, buying interest remained low with the approach of the Chinese New Year. Meanwhile selling interest among goods holders dropped dramatically, with spot discounts over the SHFE current-month aluminum price narrowing to RMB 50/mt. A few imported aluminum ingots available in markets were quoted at RMB 15,940-15,960/mt. Despite the price advantage, transactions were limited. Trading market was quiet ahead of the holiday.
 

Key Words:  East China   aluminum prices