East China Aluminum: Selling Interest Improves but Transactions Are Limited-Shanghai Metals Market

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East China Aluminum: Selling Interest Improves but Transactions Are Limited

SMM Insight 01:41:26PM Mar 12, 2012 Source:SMM

SHANGHAI, Mar. 12 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,920-15,940/mt on Monday, with discounts of RMB 20-40/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,000-16,020/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,920-15,940/mt. The SHFE current-month aluminum price opened higher but soon surrendered the gains to struggle around RMB 15,960/mt, depressing market sentiments. With the approach of delivery day, cargo holders were willing to move goods when spot discounts fell to less than RMB 40/mt. However, inquiries from downstream buyers were rare over bearish outlook, leaving transactions sparse in general.

Key Words:  East China   aluminum price 

East China Aluminum: Selling Interest Improves but Transactions Are Limited

SMM Insight 01:41:26PM Mar 12, 2012 Source:SMM

SHANGHAI, Mar. 12 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,920-15,940/mt on Monday, with discounts of RMB 20-40/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,000-16,020/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,920-15,940/mt. The SHFE current-month aluminum price opened higher but soon surrendered the gains to struggle around RMB 15,960/mt, depressing market sentiments. With the approach of delivery day, cargo holders were willing to move goods when spot discounts fell to less than RMB 40/mt. However, inquiries from downstream buyers were rare over bearish outlook, leaving transactions sparse in general.

Key Words:  East China   aluminum price