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East China Aluminum: Spot Market Turns Quieter, Futures under Downward Pressure
May 30,2012 13:46CST
smm insight
Source:SMM
Traded prices of spot aluminum in Shanghai were between RMB 15,950-15,980/mt on Wednesday.

SHANGHAI, May 30 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,950-15,980/mt on Wednesday, with discounts of RMB 0-30/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,030-16,070/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,960-15,990/mt and traded prices in Hangzhou were between RMB 15,970-15,990/mt. SHFE aluminum prices showed a downward trend with resistance at RMB 16,000/mt, raising bearish mood in the market. Cargo holders lowered prices for sales, but purchases were few at the end of the month. Transactions are expected to be further depressed tomorrow on the last day in May.

East China
aluminum price

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