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East China Aluminum: Inflation Pressure Limited Consumption, Spot Discounts Expand
Feb 9,2012 13:21CST
smm insight
Source:SMM
Traded prices of spot aluminum in Shanghai were between RMB 15,890-15,920/mt on Thursday.

SHANGHAI, Feb. 9 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,890-15,920/mt on Thursday, with discounts of RMB 70-100/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 15,990-16,010/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,840-15,870/mt. China’s January CPI rose far beyond expectations and inflation pressure still existed, limiting the recovery of consumption in spot aluminum markets. As a result, SHFE aluminum prices were under strong resistance at the RMB 16,000/mt mark, with spot discounts over the SHFE current-month aluminum price expand to nearly RMB 100/mt. Only a few middlemen were willing to purchase at lower prices. Transactions remained modest.

East China
aluminum prices

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