South China Aluminum: Transactions Turn Modest with Replenishments Completed

SMM Insight 06:29:58PM Jun 08, 2012 Source:SMM

SHANGHAI, Jun. 8 (SMM) – The most active SHFE aluminum price opened lower and fell on Friday with resistance at RMB 15,900/mt. Spot aluminum prices in South China was little influenced by interest rate cuts and fell along with SHFE aluminum prices, with mainstream traded prices between RMB 16,050-16,060/mt. In the afternoon, buying interest downstream cooled down and several cargo holders lowered quotations to RMB 16,040/mt but failed to improve sales. The overall transactions increased slightly due to replenishments ahead of weekend.
 

South China Aluminum: Transactions Turn Modest with Replenishments Completed

SMM Insight 06:29:58PM Jun 08, 2012 Source:SMM

SHANGHAI, Jun. 8 (SMM) – The most active SHFE aluminum price opened lower and fell on Friday with resistance at RMB 15,900/mt. Spot aluminum prices in South China was little influenced by interest rate cuts and fell along with SHFE aluminum prices, with mainstream traded prices between RMB 16,050-16,060/mt. In the afternoon, buying interest downstream cooled down and several cargo holders lowered quotations to RMB 16,040/mt but failed to improve sales. The overall transactions increased slightly due to replenishments ahead of weekend.