East China Aluminum: Supply in Wuxi Drops, Prices Edge Up

SMM Insight 01:35:35PM Feb 24, 2012 Source:SMM

SHANGHAI, Feb. 24 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,870-15,900/mt on Friday, with discounts of RMB 120-150/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 15980-16020/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15850-15880/mt. The continuous declines in SHFE aluminum prices depressed spot market. Although spot discounts over the SHFE current-month aluminum price narrowed as futures prices fell, aluminum prices were still under resistance at RMB 15,900/mt. With fewer goods arriving in Wuxi, goods supply in the market was limited, supporting traded prices to edge up slightly, but transactions were still quiet.

Key Words:  East China   aluminum price 

East China Aluminum: Supply in Wuxi Drops, Prices Edge Up

SMM Insight 01:35:35PM Feb 24, 2012 Source:SMM

SHANGHAI, Feb. 24 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,870-15,900/mt on Friday, with discounts of RMB 120-150/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 15980-16020/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15850-15880/mt. The continuous declines in SHFE aluminum prices depressed spot market. Although spot discounts over the SHFE current-month aluminum price narrowed as futures prices fell, aluminum prices were still under resistance at RMB 15,900/mt. With fewer goods arriving in Wuxi, goods supply in the market was limited, supporting traded prices to edge up slightly, but transactions were still quiet.

Key Words:  East China   aluminum price