East China Aluminum: Prices Resilient to Declines, Limited Transactions Done

SMM Insight 01:41:21PM Feb 02, 2012 Source:SMM

SHANGHAI, Feb. 2 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,920-15,950/mt on Thursday, with discounts of RMB 90-110/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 15,970-16,000/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,880-15,920/mt. The SHFE current-month aluminum price continued to decline with low-end price dropping below the RMB 16,000/mt mark. In February, downstream consumption remained depressed, and spot discounts over the SHFE current-month aluminum price were around RMB 100/mt. In this context, arbitrage was preferred by most traders. Aluminum prices were more resilient to declines with both sellers and buyers staying out of spot markets, but limited transactions were done.
 

Key Words:  East China   aluminum prices 

East China Aluminum: Prices Resilient to Declines, Limited Transactions Done

SMM Insight 01:41:21PM Feb 02, 2012 Source:SMM

SHANGHAI, Feb. 2 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,920-15,950/mt on Thursday, with discounts of RMB 90-110/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 15,970-16,000/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,880-15,920/mt. The SHFE current-month aluminum price continued to decline with low-end price dropping below the RMB 16,000/mt mark. In February, downstream consumption remained depressed, and spot discounts over the SHFE current-month aluminum price were around RMB 100/mt. In this context, arbitrage was preferred by most traders. Aluminum prices were more resilient to declines with both sellers and buyers staying out of spot markets, but limited transactions were done.
 

Key Words:  East China   aluminum prices