East China Aluminum: Buying Interest Low, Spot Discounts Expand-Shanghai Metals Market

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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 

Price

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#1 Refined Cu
Apr.19
49430.0
-170.0
(-0.34%)
Yangshan Copper Premium(Bill of Lading)
Apr.19
51.5
0.0
(0.00%)
Yangshan Copper Premium(Warehouse Warrant)
Apr.19
50.5
0.0
(0.00%)
Imported Cu Concentrate TC(Cu≥26%,Week)
Apr.19
67.0
-1.5
(-2.19%)
Imported Cu Concentrate TC(Cu≥26%,Month)
Mar.29
73.5
-6.0
(-7.55%)

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