South China Aluminum: Prices Under Resistance, Buyers Rarely Purchase-Shanghai Metals Market

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South China Aluminum: Prices Under Resistance, Buyers Rarely Purchase

SMM Insight 04:00:12PM May 24, 2012 Source:SMM

SHANGHAI, May 24 (SMM) – On Thursday, the most active SHFE aluminum price continued the weak trend, and spot prices in South China were under resistance at RMB 16,100/mt. Dealers, though actively selling due to cash needs, were not willing to move goods at low prices and held prices firmly at RMB 16,080/mt. Enterprises downstream rarely made purchases on bearish outlook, leaving transactions muted.

Key Words:  aluminum price   South China 

South China Aluminum: Prices Under Resistance, Buyers Rarely Purchase

SMM Insight 04:00:12PM May 24, 2012 Source:SMM

SHANGHAI, May 24 (SMM) – On Thursday, the most active SHFE aluminum price continued the weak trend, and spot prices in South China were under resistance at RMB 16,100/mt. Dealers, though actively selling due to cash needs, were not willing to move goods at low prices and held prices firmly at RMB 16,080/mt. Enterprises downstream rarely made purchases on bearish outlook, leaving transactions muted.

Key Words:  aluminum price   South China