East China Aluminum: Prices Under Resistance with Lower Selling Interest -Shanghai Metals Market

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East China Aluminum: Prices Under Resistance with Lower Selling Interest

SMM Insight 01:34:29PM May 23, 2012 Source:SMM

SHANGHAI, May 23 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,970-16,000/mt on Wednesday, with discounts of RMB 10/mt to premiums of RMB 20/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,050-16,060/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,980-16,000/mt and traded prices in Hangzhou were between RMB 15,970-15,990/mt. SHFE aluminum prices gapped lower and spot prices fell below the RMB 16,000/mt mark. Selling interest of cargo holders was lower, resulting in spot premiums over SHFE aluminum prices. Transactions did not improve due to the depressed demand downstream.

Key Words:  aluminum price   East China 

East China Aluminum: Prices Under Resistance with Lower Selling Interest

SMM Insight 01:34:29PM May 23, 2012 Source:SMM

SHANGHAI, May 23 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,970-16,000/mt on Wednesday, with discounts of RMB 10/mt to premiums of RMB 20/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,050-16,060/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,980-16,000/mt and traded prices in Hangzhou were between RMB 15,970-15,990/mt. SHFE aluminum prices gapped lower and spot prices fell below the RMB 16,000/mt mark. Selling interest of cargo holders was lower, resulting in spot premiums over SHFE aluminum prices. Transactions did not improve due to the depressed demand downstream.

Key Words:  aluminum price   East China