East China Aluminum: Dealers’ Confidence Depressed, Spot Prices Fall -Shanghai Metals Market

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East China Aluminum: Dealers’ Confidence Depressed, Spot Prices Fall

SMM Insight 01:12:04PM May 17, 2012 Source:SMM

SHANGHAI, May 17 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,960-15,990/mt on Thursday, with discounts of RMB 10-40/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,060-16,080/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,990-16,010/mt and traded prices in Hangzhou were between RMB 15,980-16,000/mt. The SHFE current-month aluminum price moved narrowly around the 5-day moving average, while spot prices in East China fell below RMB 16,000/mt. Although some cargo holders were not willing to move goods, trading was weaker due to bearish outlook, dragging down aluminum prices.

Key Words:  aluminum price   East China 

East China Aluminum: Dealers’ Confidence Depressed, Spot Prices Fall

SMM Insight 01:12:04PM May 17, 2012 Source:SMM

SHANGHAI, May 17 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,960-15,990/mt on Thursday, with discounts of RMB 10-40/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,060-16,080/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,990-16,010/mt and traded prices in Hangzhou were between RMB 15,980-16,000/mt. The SHFE current-month aluminum price moved narrowly around the 5-day moving average, while spot prices in East China fell below RMB 16,000/mt. Although some cargo holders were not willing to move goods, trading was weaker due to bearish outlook, dragging down aluminum prices.

Key Words:  aluminum price   East China