East China Aluminum: Buying Interest Low, Spot Discounts Expand

SMM Insight 01:32:59PM Feb 22, 2012 Source:SMM

SHANGHAI, Feb. 22 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,880-15,900/mt on Wednesday, with discounts of RMB 110-130/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 15,970-15,990/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,850-15,880/mt. Goods holders were actively selling goods, but downstream buying interest was low. Spot prices in Shanghai met resistance at RMB 15,900/mt, with discounts over the SHFE current-month aluminum price expanded slightly. Transactions in Wuxi were better due to lower prices. Limited deals were done on the whole.

Key Words:  East China   aluminum price 

East China Aluminum: Buying Interest Low, Spot Discounts Expand

SMM Insight 01:32:59PM Feb 22, 2012 Source:SMM

SHANGHAI, Feb. 22 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,880-15,900/mt on Wednesday, with discounts of RMB 110-130/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 15,970-15,990/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,850-15,880/mt. Goods holders were actively selling goods, but downstream buying interest was low. Spot prices in Shanghai met resistance at RMB 15,900/mt, with discounts over the SHFE current-month aluminum price expanded slightly. Transactions in Wuxi were better due to lower prices. Limited deals were done on the whole.

Key Words:  East China   aluminum price