East China Aluminum: Spot Discount Reported, Downstream Buyers on Sidelines-Shanghai Metals Market

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East China Aluminum: Spot Discount Reported, Downstream Buyers on Sidelines

SMM Insight 04:00:07PM May 21, 2012 Source:SMM

SHANGHAI, May 21 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 16,040-16,070/mt on Monday, with discounts of RMB 0-30/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,130-16,150/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 16,060-16,080/mt and traded prices in Hangzhou were between RMB 16,050-16,070/mt. SHFE aluminum prices opened higher and drove spot prices up. Sparse purchases were reported as wait-and-see mood prevailed in market downstream, leaving slight spot discounts. Prices between well-known and low-end brands diverged. Transactions were modest with sufficient goods supply.

Key Words:  East China   aluminum price 

East China Aluminum: Spot Discount Reported, Downstream Buyers on Sidelines

SMM Insight 04:00:07PM May 21, 2012 Source:SMM

SHANGHAI, May 21 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 16,040-16,070/mt on Monday, with discounts of RMB 0-30/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,130-16,150/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 16,060-16,080/mt and traded prices in Hangzhou were between RMB 16,050-16,070/mt. SHFE aluminum prices opened higher and drove spot prices up. Sparse purchases were reported as wait-and-see mood prevailed in market downstream, leaving slight spot discounts. Prices between well-known and low-end brands diverged. Transactions were modest with sufficient goods supply.

Key Words:  East China   aluminum price