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 

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