South China Aluminum: Consumption Remains Soft, Spot Prices Hard to Increase-Shanghai Metals Market

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South China Aluminum: Consumption Remains Soft, Spot Prices Hard to Increase

SMM Insight 04:08:51PM Feb 22, 2012 Source:SMM

SHANGHAI, Feb. 22 (SMM) – LME aluminum prices surged overnight, boosting the most active SHFE aluminum price to open higher at RMB 16,245/mt on Wednesday. Later, SHFE aluminum prices struggled with resistance at the 30-day moving average. Spot prices in Nanhai were between RMB 15,870-15,890/mt, and most cargo holders sell goods at RMB 15,880/mt, while some enterprises eager for cash lowered prices to RMB 15,870/mt. Transactions did not improve on the whole. In this context, spot prices were hard to rise along with the futures prices.
 

Key Words:  South China   aluminum price 

Price

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#1 Refined Cu
Apr.24
49045.0
-145.0
(-0.29%)
Standard-Grade Copper
Apr.24
49000.0
-140.0
(-0.28%)
High-Grade Copper
Apr.24
49090.0
-140.0
(-0.28%)
Guixi copper
Apr.24
49100.0
-140.0
(-0.28%)
Low-quality copper
Apr.24
48940.0
-135.0
(-0.28%)

South China Aluminum: Consumption Remains Soft, Spot Prices Hard to Increase

SMM Insight 04:08:51PM Feb 22, 2012 Source:SMM

SHANGHAI, Feb. 22 (SMM) – LME aluminum prices surged overnight, boosting the most active SHFE aluminum price to open higher at RMB 16,245/mt on Wednesday. Later, SHFE aluminum prices struggled with resistance at the 30-day moving average. Spot prices in Nanhai were between RMB 15,870-15,890/mt, and most cargo holders sell goods at RMB 15,880/mt, while some enterprises eager for cash lowered prices to RMB 15,870/mt. Transactions did not improve on the whole. In this context, spot prices were hard to rise along with the futures prices.
 

Key Words:  South China   aluminum price