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South China Aluminum: Purchases Limited with Prices under Resistance
May 10,2012 16:37CST
smm insight
Source:SMM
The most active SHFE aluminum price fell for the fourth day on Thursday but stabilized above RMB 16,100/mt with downward room limited.

SHANGHAI, May 10 (SMM) – The most active SHFE aluminum price fell for the fourth day on Thursday but stabilized above RMB 16,100/mt with downward room limited. Spot prices in South China dropped slightly to RMB 16,170-16,190/mt. Downstream buyers only purchased moderately, while cargo holders were reluctant to move goods at low prices, leaving resistance at the RMB 16,200/mt mark. Transactions were quiet on the whole.

South China
aluminum price

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