South China Aluminum: Consumption Recovers Slowly, Concerns over Aluminum Markets Remain-Shanghai Metals Market

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South China Aluminum: Consumption Recovers Slowly, Concerns over Aluminum Markets Remain

SMM Insight 04:01:40PM Feb 15, 2012 Source:SMM

SHANGHAI, Feb 15 (SMM) – SHFE 1205 aluminum contract price opened at RMB 16,240/mt on Wednesday. Market confidence was boosted by the increase in China’s domestic stocks. As a result, SHFE aluminum price rose to a high of RMB 16,270/mt and fluctuated around the level in the morning. Spot aluminum prices in Nanhai were between RMB 15,860-15,880/mt, with transactions becoming more brisk. However, traders were still bearish on aluminum prices, saying aluminum market was no longer as lively as it used to be. Downstream consumption was recovering slowly, and concerns over market outlook remained due to the still high inventories and low trading sentiment.

Key Words:  south China   aluminum price 

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%)

South China Aluminum: Consumption Recovers Slowly, Concerns over Aluminum Markets Remain

SMM Insight 04:01:40PM Feb 15, 2012 Source:SMM

SHANGHAI, Feb 15 (SMM) – SHFE 1205 aluminum contract price opened at RMB 16,240/mt on Wednesday. Market confidence was boosted by the increase in China’s domestic stocks. As a result, SHFE aluminum price rose to a high of RMB 16,270/mt and fluctuated around the level in the morning. Spot aluminum prices in Nanhai were between RMB 15,860-15,880/mt, with transactions becoming more brisk. However, traders were still bearish on aluminum prices, saying aluminum market was no longer as lively as it used to be. Downstream consumption was recovering slowly, and concerns over market outlook remained due to the still high inventories and low trading sentiment.

Key Words:  south China   aluminum price