East China Aluminum: Transactions Quiet with Prices Struggling-Shanghai Metals Market

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East China Aluminum: Transactions Quiet with Prices Struggling

SMM Insight 01:17:27PM Mar 20, 2012 Source:SMM

SHANGHAI, Mar. 20 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,970-16,000/mt on Tuesday, with discounts of RMB 50-80/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,060-16,090/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,990-16,000/mt. The falling domestic stock markets affected base metals, but SHFE aluminum prices were relatively resilient to declines with the SHFE current-month aluminum price edging up slightly. Traders held prices firmly while wait-and-see sentiment downstream became stronger. Transactions were quiet and prices were hard to rise above the RMB 16,000/mt mark.
 

Key Words:  East China   aluminum price 

East China Aluminum: Transactions Quiet with Prices Struggling

SMM Insight 01:17:27PM Mar 20, 2012 Source:SMM

SHANGHAI, Mar. 20 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,970-16,000/mt on Tuesday, with discounts of RMB 50-80/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,060-16,090/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,990-16,000/mt. The falling domestic stock markets affected base metals, but SHFE aluminum prices were relatively resilient to declines with the SHFE current-month aluminum price edging up slightly. Traders held prices firmly while wait-and-see sentiment downstream became stronger. Transactions were quiet and prices were hard to rise above the RMB 16,000/mt mark.
 

Key Words:  East China   aluminum price