East China Aluminum: Bearish Mood Prevails, Cargo Holders Actively Moving Goods

SMM Insight 03:27:51PM Jun 04, 2012 Source:SMM

SHANGHAI, Jun. 4 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,890-15,910/mt on Monday. Low-iron aluminum was traded between RMB 15,980-16,000/mt in Shanghai. China’s domestic futures and stock markets both fell Monday. Although SHFE aluminum prices were relatively resilient, bearish mood prevailed in the spot market due to gloomy economic conditions. Cargo holders in Shanghai were still actively moving goods, dragging down spot prices. Selling interest of dealers in Wuxi was also strong, but sellers in Hangzhou were not willing to move goods at low prices. Enterprises were reluctant to buy despite lower prices, leaving transactions scarce.

Key Words:  aluminum price   East China 

East China Aluminum: Bearish Mood Prevails, Cargo Holders Actively Moving Goods

SMM Insight 03:27:51PM Jun 04, 2012 Source:SMM

SHANGHAI, Jun. 4 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,890-15,910/mt on Monday. Low-iron aluminum was traded between RMB 15,980-16,000/mt in Shanghai. China’s domestic futures and stock markets both fell Monday. Although SHFE aluminum prices were relatively resilient, bearish mood prevailed in the spot market due to gloomy economic conditions. Cargo holders in Shanghai were still actively moving goods, dragging down spot prices. Selling interest of dealers in Wuxi was also strong, but sellers in Hangzhou were not willing to move goods at low prices. Enterprises were reluctant to buy despite lower prices, leaving transactions scarce.

Key Words:  aluminum price   East China