East China Aluminum: Spot Discounts Narrow with Strong Wait-and-See Sentiment-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Market commentary
  • Futures movement
  • Aluminium
  • Inventory data
  • Copper
  • Lead
  • Macroeconomics
  • Evening comments
  • Li-Ion Battery Cathode Material
  • MMi Iron Ore Port Index
  • Morning comments
  • Customs data
  • Silicon
  • scrap copper

East China Aluminum: Spot Discounts Narrow with Strong Wait-and-See Sentiment

SMM Insight 01:28:04PM Feb 03, 2012 Source:SMM

SHANGHAI, Feb. 3 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,910-15,930/mt on Friday, with discounts of RMB 60-90/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 15,850-15,890/mt. The SHFE current-month aluminum price were under pressure at RMB 16,000/mt, depressing spot market sentiment. As a result, cargo holders were unwilling to move goods and held prices firmly at RMB 15,900/mt, with spot discounts over the SHFE current-month aluminum price narrowing to less than RMB 100/mt. Downstream purchases were rarely reported, and only a few middlemen made inquiries. Transactions remained modest with market players waiting for improvement following the Lantern Festival.

Key Words:  East China   aluminum prices 

Price

more
Gold(99.99%)
Apr.22
280.3
0.8
(0.30%)
Gold(99.95%)
Apr.22
280.1
0.7
(0.23%)
#1 Silver(99.99%)
Apr.22
3514.0
3.0
(0.09%)
Silver(99.95%)
Apr.22
3499.0
3.0
(0.09%)
Silver(99.90%)
Apr.22
3484.0
3.0
(0.09%)

East China Aluminum: Spot Discounts Narrow with Strong Wait-and-See Sentiment

SMM Insight 01:28:04PM Feb 03, 2012 Source:SMM

SHANGHAI, Feb. 3 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,910-15,930/mt on Friday, with discounts of RMB 60-90/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 15,850-15,890/mt. The SHFE current-month aluminum price were under pressure at RMB 16,000/mt, depressing spot market sentiment. As a result, cargo holders were unwilling to move goods and held prices firmly at RMB 15,900/mt, with spot discounts over the SHFE current-month aluminum price narrowing to less than RMB 100/mt. Downstream purchases were rarely reported, and only a few middlemen made inquiries. Transactions remained modest with market players waiting for improvement following the Lantern Festival.

Key Words:  East China   aluminum prices