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East China Aluminum: Sellers Hold Prices Firmly, Buying Interest Depressed

iconMar 27, 2012 14:16
Source:SMM
Traded prices of spot aluminum in Shanghai were between RMB 15,970-16,010/mt on Tuesday.

SHANGHAI, Mar. 26 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,970-16,010/mt on Tuesday, with discounts of RMB 30-70/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,080-16,100/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,980-16,010/mt. SHFE aluminum prices failed to rise up due to a lack of upward momentum, combined with weak consumption downstream by month’s end, spot aluminum prices met strong resistance. Although some cargo holders held prices firmly above RMB 16,000/mt, those in urgent need of cash were still willing to sell goods at lower prices. Transactions were limited on the whole.
 

East China
aluminum price

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