East China Aluminum: Traders Active in Selling, Prices Struggle at RMB 16,000/mt-Shanghai Metals Market

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East China Aluminum: Traders Active in Selling, Prices Struggle at RMB 16,000/mt

SMM Insight 03:03:10PM May 18, 2012 Source:SMM

SHANGHAI, May 18 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,990-16,020/mt on Friday, with discounts of RMB 10-40/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,080-16,100/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 16,010-16,030/mt and traded prices in Hangzhou were between RMB 16,000-16,020/mt. The SHFE current-month aluminum price remained stable above the 5-day moving average. Cargo holders in spot market were actively moving goods, but buying interest downstream remained low, driving spot prices to struggle around RMB 16,000/mt. Prices for some well-known brands edged up slightly, but low-end prices were still below RMB 16,000/mt. Trading was still light in general despite the needs for replenishment ahead of the weekend.
 

Key Words:  aluminum price   East China 

East China Aluminum: Traders Active in Selling, Prices Struggle at RMB 16,000/mt

SMM Insight 03:03:10PM May 18, 2012 Source:SMM

SHANGHAI, May 18 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,990-16,020/mt on Friday, with discounts of RMB 10-40/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,080-16,100/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 16,010-16,030/mt and traded prices in Hangzhou were between RMB 16,000-16,020/mt. The SHFE current-month aluminum price remained stable above the 5-day moving average. Cargo holders in spot market were actively moving goods, but buying interest downstream remained low, driving spot prices to struggle around RMB 16,000/mt. Prices for some well-known brands edged up slightly, but low-end prices were still below RMB 16,000/mt. Trading was still light in general despite the needs for replenishment ahead of the weekend.
 

Key Words:  aluminum price   East China