East China Aluminum: Inflation Pressure Limited Consumption, Spot Discounts Expand-Shanghai Metals Market

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East China Aluminum: Inflation Pressure Limited Consumption, Spot Discounts Expand

SMM Insight 01:21:35PM Feb 09, 2012 Source:SMM

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.

Key Words:  East China   aluminum prices 

Price

more
#1 Lead
Apr.19
16550.0
50.0
(0.30%)
T/C for domestic lead concentrate
Apr.01
1850.0
0.0
(0.00%)
T/C for imported lead concentrate
Apr.01
27.5
0.0
(0.00%)
#2 Lead
Apr.19
16500.0
50.0
(0.30%)
Secondary Lead
Apr.19
16100.0
50.0
(0.31%)

East China Aluminum: Inflation Pressure Limited Consumption, Spot Discounts Expand

SMM Insight 01:21:35PM Feb 09, 2012 Source:SMM

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.

Key Words:  East China   aluminum prices