East China Aluminum: Prices Edge up after Delivery with Resistance Still Exists-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • NPI
  • Zinc
  • hydrogen stations
  • Market commentary
  • Copper
  • thép
  • Production data
  • Aluminium
  • Stainless steel
  • Macroeconomics
  • Morning comments
  • Mengtai Group
  • Lithium
  • Iron ore

East China Aluminum: Prices Edge up after Delivery with Resistance Still Exists

SMM Insight 01:56:31PM Mar 16, 2012 Source:SMM

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.

Key Words:  East China   aluminum price 

East China Aluminum: Prices Edge up after Delivery with Resistance Still Exists

SMM Insight 01:56:31PM Mar 16, 2012 Source:SMM

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.

Key Words:  East China   aluminum price