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East China Aluminum: Consumption Remains Weak with Spot Discounts Still Existing
Feb 15,2012 13:44CST
smm insight
Source:SMM
Traded prices of spot aluminum in Shanghai were between RMB 15,870-15,900/mt on Wednesday.

SHANGHAI, Feb. 15 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,870-15,900/mt on Wednesday, with discounts of RMB 20-50/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 15,830-15,870/mt. With only one day ahead of the delivery of the SHFE current-month aluminum contract, spot aluminum prices fell slightly with resistance at the 5-day moving average. Spot discounts over the SHFE current-month aluminum price did not narrow due to the weak consumption. Goods holders were actively selling goods in case the discounts will expand after delivery. But deals were still limited.

East China
aluminum price

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