Metals News
East China Aluminum: Futures Show Unexpected Rise, Buyers and Sellers in A Stalemate
smm insight
May 3,2012

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.

aluminum price
East China
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