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South China Aluminum: Futures Drop in the Afternoon, Selling Interest Low in Spot Markets
Mar 14,2012 18:05CST
smm insight
Source:SMM
On Wednesday, SHFE 1205 aluminum contract price opened at RMB 16,230/mt.

SHANGHAI, Mar. 14 – On Wednesday, SHFE 1205 aluminum contract price opened at RMB 16,230/mt. In the afternoon, as the news conference of NPC and CPPCC sessions signaled persistent tight property policy, sending Shanghai’s stock market index down, base metals plunged generally, with the most active SHFE aluminum contract price down RMB 70/mt to RMB 16,160/mt. Spot prices in Nanhai were between RMB 15,970-15,990/mt, up RMB 20/mt from the previous trading day. With the approach of delivery day, traders were optimistic on aluminum price trends, and not willing to move goods. Demand of downstream enterprises did not improve, leaving transactions quiet on the whole.

South China
aluminum price

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