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 

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