East China Aluminum: Spot Prices Rise Slightly But Meet Resistance -Shanghai Metals Market

Hot Keywords

  • Inventory data
  • Rare earths
  • Rare earth
  • Market commentary
  • Aluminium
  • Zinc
  • Copper
  • Macroeconomics
  • Sales data
  • MMi Iron Ore Port Index
  • Iron ore
  • precious metals
  • Nickel
  • Futures movement
  • Tin

East China Aluminum: Spot Prices Rise Slightly But Meet Resistance

SMM Insight 01:30:35PM May 02, 2012 Source:SMM

SHANGHAI, May 2 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 16,080-16,110/mt on Wednesday, with discount of RMB 0-30/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,170-16,190/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 16,090-16,110/mt. SHFE aluminum prices moved up on the first trading day after May Day holiday, pushing spot prices to rise slightly. However, the increase was limited by soft demand downstream. Cargo holders were actively moving goods, but trading turned quiet as aluminum prices hitting the RMB 16,100/mt level.

Key Words:  aluminum price   East China 

East China Aluminum: Spot Prices Rise Slightly But Meet Resistance

SMM Insight 01:30:35PM May 02, 2012 Source:SMM

SHANGHAI, May 2 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 16,080-16,110/mt on Wednesday, with discount of RMB 0-30/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,170-16,190/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 16,090-16,110/mt. SHFE aluminum prices moved up on the first trading day after May Day holiday, pushing spot prices to rise slightly. However, the increase was limited by soft demand downstream. Cargo holders were actively moving goods, but trading turned quiet as aluminum prices hitting the RMB 16,100/mt level.

Key Words:  aluminum price   East China