East China Aluminum: Spot Discounts Expand Further with Low Buying Interest

SMM Insight 02:40:40PM Feb 23, 2012 Source:SMM

SHANGHAI, Feb. 23 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,870-15,900/mt on Thursday, with discounts of RMB 160-180/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 15,980-16,020/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,850-15,880/mt. SHFE aluminum prices struggled and moved weakly around the moving averages. Buying interest in spot market remained low, leading discounts over the SHFE current-month aluminum price to expand further to RMB 180/mt. Quotations for aluminum with lower quality dropped, but the supply surplus resulted in quiet transactions in the market.

Key Words:  East China   aluminum price 

East China Aluminum: Spot Discounts Expand Further with Low Buying Interest

SMM Insight 02:40:40PM Feb 23, 2012 Source:SMM

SHANGHAI, Feb. 23 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,870-15,900/mt on Thursday, with discounts of RMB 160-180/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 15,980-16,020/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,850-15,880/mt. SHFE aluminum prices struggled and moved weakly around the moving averages. Buying interest in spot market remained low, leading discounts over the SHFE current-month aluminum price to expand further to RMB 180/mt. Quotations for aluminum with lower quality dropped, but the supply surplus resulted in quiet transactions in the market.

Key Words:  East China   aluminum price