South China Aluminum: Purchases Limited with Prices under Resistance-Shanghai Metals Market

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South China Aluminum: Purchases Limited with Prices under Resistance

SMM Insight 04:37:40PM May 10, 2012 Source:SMM

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.

Key Words:  South China   aluminum price 

South China Aluminum: Purchases Limited with Prices under Resistance

SMM Insight 04:37:40PM May 10, 2012 Source:SMM

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.

Key Words:  South China   aluminum price