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Home / Metal News / East China Aluminum: Futures Fail to Rise, Spot Prices Stabilize with Light Trading

East China Aluminum: Futures Fail to Rise, Spot Prices Stabilize with Light Trading

Apr 13, 2012 13:29

Source:SMM

Traded prices of spot aluminum in Shanghai were between RMB 15,960-15,990/mt on Friday.

SHANGHAI, Apr. 13 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,960-15,990/mt on Friday, with discounts of RMB 10/mt to premiums of RMB 20/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 15,980-16,000/mt. The SHFE current-month aluminum price opened higher at RMB 16,000/mt and moved between RMB 15,965-16,000/mt. Sellers were not willing to move goods at low prices, leaving main transactions made at RMB 15,970/mt. As China’s 1Q GDP growth was reported worse than expected, coupled with the upcoming delivery for SHFE aluminum contract, traders in spot markets were still cautious.

East China

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