East China Aluminum: Prices Fail to Rebound, Markets Remain Gloomy -Shanghai Metals Market

Hot Keywords

  • Zinc
  • Futures movement
  • Aluminium
  • Silicon
  • Inventory data
  • Prebaked anode
  • Copper
  • Lead
  • Evening comments
  • MMi Iron Ore Port Index
  • New Energy Vehicle
  • Nickel
  • NEV
  • Production data
  • Market commentary

East China Aluminum: Prices Fail to Rebound, Markets Remain Gloomy

SMM Insight 01:30:05PM Feb 08, 2012 Source:SMM

SHANGHAI, Feb. 8 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,870-15,900/mt on Wednesday, 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 15,830-15,860/mt. SHFE aluminum prices failed to rebound on Wednesday, leaving markets gloomy. Aluminum prices hovered at a low level and downstream consumption was soft. Goods holders were not willing to move goods at low prices, with arbitrage by a few middlemen. Transactions did not improve in general.

Key Words:  East China   aluminum prices 

Price

more
#1 Refined Cu
Apr.19
49430.0
-170.0
(-0.34%)
Yangshan Copper Premium(Bill of Lading)
Apr.19
51.5
0.0
(0.00%)
Yangshan Copper Premium(Warehouse Warrant)
Apr.19
50.5
0.0
(0.00%)
Imported Cu Concentrate TC(Cu≥26%,Week)
Apr.19
67.0
-1.5
(-2.19%)
Imported Cu Concentrate TC(Cu≥26%,Month)
Mar.29
73.5
-6.0
(-7.55%)

East China Aluminum: Prices Fail to Rebound, Markets Remain Gloomy

SMM Insight 01:30:05PM Feb 08, 2012 Source:SMM

SHANGHAI, Feb. 8 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,870-15,900/mt on Wednesday, 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 15,830-15,860/mt. SHFE aluminum prices failed to rebound on Wednesday, leaving markets gloomy. Aluminum prices hovered at a low level and downstream consumption was soft. Goods holders were not willing to move goods at low prices, with arbitrage by a few middlemen. Transactions did not improve in general.

Key Words:  East China   aluminum prices