South China Aluminum: Prices Continue to Fall, Sellers and Buyers Still on Sidelines-Shanghai Metals Market

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South China Aluminum: Prices Continue to Fall, Sellers and Buyers Still on Sidelines

SMM Insight 02:43:34PM May 15, 2012 Source:SMM

SHANGHAI, May 15 (SMM) – SHFE aluminum prices continued to fall for the seventh day on Tuesday, dragging down spot prices. Spot prices in South China hovered above RMB 16,100/mt since SHFE aluminum prices were relatively resilient compared with other metals. However, buying interest downstream remained weak, leaving few transactions done. Mainstream traded prices were between RMB 16,100-16,120/mt. Both sellers and buyers stayed out of the market with strong wait-and-see mood.

Price

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#1 Refined Cu
Oct.16
46915.0
-70.0
(-0.15%)
Standard-Grade Copper
Oct.16
46905.0
-75.0
(-0.16%)
High-Grade Copper
Oct.16
46925.0
-65.0
(-0.14%)
Guixi copper
Oct.16
46930.0
-65.0
(-0.14%)
Low-quality copper
Oct.16
46875.0
-60.0
(-0.13%)

South China Aluminum: Prices Continue to Fall, Sellers and Buyers Still on Sidelines

SMM Insight 02:43:34PM May 15, 2012 Source:SMM

SHANGHAI, May 15 (SMM) – SHFE aluminum prices continued to fall for the seventh day on Tuesday, dragging down spot prices. Spot prices in South China hovered above RMB 16,100/mt since SHFE aluminum prices were relatively resilient compared with other metals. However, buying interest downstream remained weak, leaving few transactions done. Mainstream traded prices were between RMB 16,100-16,120/mt. Both sellers and buyers stayed out of the market with strong wait-and-see mood.