East China Aluminum: Declines in Futures Boost Selling Interest, Transactions Remain Modest

SMM Insight 01:44:09PM Jan 18, 2012 Source:SMM

SHANGHAI, Jan. 18 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 16,050-16,080/mt on Wednesday, with discounts of RMB 110-140/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,100-16,120/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 16,010-16,040/mt. The SHFE current-month aluminum price opened higher and fell after the increase caused by serial positive news. In East China spot markets, downstream consumption for aluminum ingots remained soft, and middlemen were enthusiastic in selling goods. Influenced by the declining SHFE aluminum price, spot prices in Shanghai were around low-end prices. Trading market may be quieter during the last three trading days before the holiday.

Key Words:  East China   aluminum prices 

East China Aluminum: Declines in Futures Boost Selling Interest, Transactions Remain Modest

SMM Insight 01:44:09PM Jan 18, 2012 Source:SMM

SHANGHAI, Jan. 18 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 16,050-16,080/mt on Wednesday, with discounts of RMB 110-140/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,100-16,120/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 16,010-16,040/mt. The SHFE current-month aluminum price opened higher and fell after the increase caused by serial positive news. In East China spot markets, downstream consumption for aluminum ingots remained soft, and middlemen were enthusiastic in selling goods. Influenced by the declining SHFE aluminum price, spot prices in Shanghai were around low-end prices. Trading market may be quieter during the last three trading days before the holiday.

Key Words:  East China   aluminum prices