East China Aluminum: Prices Resilient to Declines with Low Selling Interest-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Aluminium
  • Copper
  • Copper scrap
  • Steel
  • Market commentary
  • Nickel
  • Lead
  • Alumina
  • Stainless steel
  • Evening comments
  • price forecast
  • Morning comments
  • MMi Iron Ore Port Index
  • Inventory data

East China Aluminum: Prices Resilient to Declines with Low Selling Interest

SMM Insight 01:22:52PM Jan 13, 2012 Source:SMM

SHANGHAI, Jan. 13 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,860-16,000/mt on Friday, with discounts of RMB 0-40/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,020-16,060/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,920-15,960/mt. The SHFE current-month aluminum price lacked rising momentum with resistance at RMB 16,000/mt. Traders in East China were busy with finishing work ahead of the Chinese New Year holiday and were not actively selling goods. Despite low downstream buying interest, aluminum prices showed some resilience to declines over the reduced supply. Limited deals were done in the market.

Key Words:  East China   aluminum prices 

East China Aluminum: Prices Resilient to Declines with Low Selling Interest

SMM Insight 01:22:52PM Jan 13, 2012 Source:SMM

SHANGHAI, Jan. 13 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,860-16,000/mt on Friday, with discounts of RMB 0-40/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,020-16,060/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,920-15,960/mt. The SHFE current-month aluminum price lacked rising momentum with resistance at RMB 16,000/mt. Traders in East China were busy with finishing work ahead of the Chinese New Year holiday and were not actively selling goods. Despite low downstream buying interest, aluminum prices showed some resilience to declines over the reduced supply. Limited deals were done in the market.

Key Words:  East China   aluminum prices