East China Aluminum: Consumption Quiet at Month End, Prices Lack Momentum to Rise-Shanghai Metals Market

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East China Aluminum: Consumption Quiet at Month End, Prices Lack Momentum to Rise

SMM Insight 01:43:56PM Feb 27, 2012 Source:SMM

SHANGHAI, Feb. 27 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,890-15,920/mt on Monday, with discounts of RMB 130-160/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,000-16,040/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,870-15,910/mt. SHFE aluminum prices failed to rise along with LME aluminum prices due to a lack of momentum, with spot prices only increasing slightly. Consumption became quieter at month end, and spot discounts over the SHFE current-month aluminum price tended to expand. In Wuxi, some cargo holders were not willing to move goods, driving spot discounts to narrow, but transactions were still modest.

Key Words:  East China   aluminum price 

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East China Aluminum: Consumption Quiet at Month End, Prices Lack Momentum to Rise

SMM Insight 01:43:56PM Feb 27, 2012 Source:SMM

SHANGHAI, Feb. 27 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,890-15,920/mt on Monday, with discounts of RMB 130-160/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,000-16,040/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,870-15,910/mt. SHFE aluminum prices failed to rise along with LME aluminum prices due to a lack of momentum, with spot prices only increasing slightly. Consumption became quieter at month end, and spot discounts over the SHFE current-month aluminum price tended to expand. In Wuxi, some cargo holders were not willing to move goods, driving spot discounts to narrow, but transactions were still modest.

Key Words:  East China   aluminum price