East China Aluminum: Futures Show Unexpected Rise, Buyers and Sellers in A Stalemate-Shanghai Metals Market

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East China Aluminum: Futures Show Unexpected Rise, Buyers and Sellers in A Stalemate

SMM Insight 01:27:29PM May 03, 2012 Source:SMM

SHANGHAI, May 3 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 16,150-16,180/mt on Thursday, with discount of RMB 0-30/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,240-16,260/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 16,180-16,200/mt. SHFE aluminum prices increased while base metals showed declines generally, and cargo holders were bullish toward market outlook, pushing spot prices up to nearly RMB 16,200/mt. However, buying interest at downstream enterprises was low, and dealers only purchased moderately. Some cargo holders held prices firmly, mainstream transactions were concluded at prices with discounts over SHFE aluminum prices. Both buyers and sellers refused to budge on prices.

Key Words:  aluminum price   East China 

East China Aluminum: Futures Show Unexpected Rise, Buyers and Sellers in A Stalemate

SMM Insight 01:27:29PM May 03, 2012 Source:SMM

SHANGHAI, May 3 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 16,150-16,180/mt on Thursday, with discount of RMB 0-30/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,240-16,260/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 16,180-16,200/mt. SHFE aluminum prices increased while base metals showed declines generally, and cargo holders were bullish toward market outlook, pushing spot prices up to nearly RMB 16,200/mt. However, buying interest at downstream enterprises was low, and dealers only purchased moderately. Some cargo holders held prices firmly, mainstream transactions were concluded at prices with discounts over SHFE aluminum prices. Both buyers and sellers refused to budge on prices.

Key Words:  aluminum price   East China