East China Aluminum: Discounts Expand with Consumption Soft by Month End-Shanghai Metals Market

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East China Aluminum: Discounts Expand with Consumption Soft by Month End

SMM Insight 02:21:14PM May 28, 2012 Source:SMM

SHANGHAI, May 28 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,970-16,010/mt on Monday, with discounts of RMB 0-40/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 15,990-16,010/mt. SHFE aluminum prices stood above the RMB 16,000/mt while increase in spot prices was limited due to the soft consumption at month’s end. Some cargo holders in urgent need of cash lower prices for sales, causing spot discounts to expand to RMB 40/mt. Transactions were modest due to sufficient supply in the market.

Key Words:  aluminum price   East China 

East China Aluminum: Discounts Expand with Consumption Soft by Month End

SMM Insight 02:21:14PM May 28, 2012 Source:SMM

SHANGHAI, May 28 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,970-16,010/mt on Monday, with discounts of RMB 0-40/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 15,990-16,010/mt. SHFE aluminum prices stood above the RMB 16,000/mt while increase in spot prices was limited due to the soft consumption at month’s end. Some cargo holders in urgent need of cash lower prices for sales, causing spot discounts to expand to RMB 40/mt. Transactions were modest due to sufficient supply in the market.

Key Words:  aluminum price   East China