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East China Aluminum: Prices Edge up after Delivery with Resistance Still Exists
Mar 16,2012 13:56CST
smm insight
Source:SMM
Traded prices of spot aluminum in Shanghai were between RMB 15,960-15,990/mt on Friday.

SHANGHAI, Mar. 16 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,960-15,990/mt on Friday, with discounts of RMB 60-90/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,050-16,080/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,970-15,990/mt. The SHFE current-month aluminum price stabilized at RMB 16,050/mt after delivery, driving quotations by traders in Shanghai spot market to RMB 16,000/mt. However, consumption remained soft, leaving spot discounts over the SHFE current-month aluminum price at nearly RMB 100/mt. Transactions in Wuxi were better than in Shanghai due to rigid demand from downstream buyers.

East China
aluminum price

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