East China Aluminum: Goods Holders Diverge with Prices Meeting Resistance to Rise-Shanghai Metals Market

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East China Aluminum: Goods Holders Diverge with Prices Meeting Resistance to Rise

SMM Insight 01:26:01PM Feb 17, 2012 Source:SMM

SHANGHAI, Feb. 17 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,850-15,890/mt on Friday, with discounts of RMB 100-130/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 15,950-15,970/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,820-15,850/mt. SHFE aluminum prices fell after opening higher, suppressing increase in spot prices. Goods holders diverged with some brands rarely seen, while goods supply for other brands was sufficient. However, downstream buying interest remained depressed, so transactions did not improve.

Key Words:  East China   aluminum price 

East China Aluminum: Goods Holders Diverge with Prices Meeting Resistance to Rise

SMM Insight 01:26:01PM Feb 17, 2012 Source:SMM

SHANGHAI, Feb. 17 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,850-15,890/mt on Friday, with discounts of RMB 100-130/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 15,950-15,970/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,820-15,850/mt. SHFE aluminum prices fell after opening higher, suppressing increase in spot prices. Goods holders diverged with some brands rarely seen, while goods supply for other brands was sufficient. However, downstream buying interest remained depressed, so transactions did not improve.

Key Words:  East China   aluminum price