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South China Aluminum: Confidence in Spot Markets Lower over Declining Futures Prices
Feb 16,2012 15:19CST
smm insight
Source:SMM
SHFE 1205 aluminum price declined for the fifth consecutive day since last Friday to open at RMB 16,210/mt.

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.

South China
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