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East China Aluminum: Futures Resilient to Declines, Low-end Spot Prices Move Up
Apr 23,2012 14:19CST
smm insight
Source:SMM
Traded prices of spot aluminum in Shanghai were between RMB 16,000-16,040/mt on Monday.

SHANGHAI, Apr. 23 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 16,000-16,040/mt on Monday, with discount of RMB 30/mt to premiums of RMB 10/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,090-16,110/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 16,020-16,040/mt. The SHFE current-month aluminum price stabilized at the RMB 16,000/mt mark, showing stronger resilience compared with other base metals and boosting low-end spot prices to stand above RMB 16,000/mt. However, with sufficient goods supply and limited consumption downstream, plus the weak HSBC PMI data for April, upward room for spot aluminum prices was limited, leaving mainstream traded prices hovering around RMB 16,020/mt. Transactions were limited in the market.

aluminum price
East China

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