South China Aluminum: Confidence in Spot Markets Lower over Declining Futures Prices

SMM Insight 03:19:55PM Feb 16, 2012 Source:SMM

SHANGHAI, Feb. 16 (SMM) – SHFE 1205 aluminum price declined for the fifth consecutive day since last Friday to open at RMB 16,210/mt. Coupled with negative news from Europe, the most active SHFE aluminum contract price continued to fall on Thursday and moved below the moving averages. Spot aluminum prices in Nanhai were between RMB 15,860-15,880/mt. Cargo holders were not willing to move goods due to the decreasing aluminum prices. Goods supply in South China spot market were reduced so as to hold the prices, but the bearish moods and slow recovery of consumption may keep the spot aluminum prices weak in short term.

Key Words:  South China   aluminum price 

South China Aluminum: Confidence in Spot Markets Lower over Declining Futures Prices

SMM Insight 03:19:55PM Feb 16, 2012 Source:SMM

SHANGHAI, Feb. 16 (SMM) – SHFE 1205 aluminum price declined for the fifth consecutive day since last Friday to open at RMB 16,210/mt. Coupled with negative news from Europe, the most active SHFE aluminum contract price continued to fall on Thursday and moved below the moving averages. Spot aluminum prices in Nanhai were between RMB 15,860-15,880/mt. Cargo holders were not willing to move goods due to the decreasing aluminum prices. Goods supply in South China spot market were reduced so as to hold the prices, but the bearish moods and slow recovery of consumption may keep the spot aluminum prices weak in short term.

Key Words:  South China   aluminum price