East China Aluminum: Weak Futures Weigh on Spot Prices-Shanghai Metals Market

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East China Aluminum: Weak Futures Weigh on Spot Prices

SMM Insight 01:55:58PM May 29, 2012 Source:SMM

SHANGHAI, May 29 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,970-16,000/mt on Tuesday, with discounts of RMB 0-30/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,050-16,080/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 15,980-16,000/mt. SHFE aluminum prices failed to rose above RMB 16,000/mt, weighing on spot prices. Cargo holders were willing to move goods with spot discounts, but buying interest downstream were low, leaving transactions unimproved.

Key Words:  aluminum price   East China 

East China Aluminum: Weak Futures Weigh on Spot Prices

SMM Insight 01:55:58PM May 29, 2012 Source:SMM

SHANGHAI, May 29 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,970-16,000/mt on Tuesday, with discounts of RMB 0-30/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,050-16,080/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 15,980-16,000/mt. SHFE aluminum prices failed to rose above RMB 16,000/mt, weighing on spot prices. Cargo holders were willing to move goods with spot discounts, but buying interest downstream were low, leaving transactions unimproved.

Key Words:  aluminum price   East China