East China Aluminum: Futures Prices Meet Resistance to Rise

SMM Insight 03:34:39PM Jun 12, 2012 Source:SMM

SHANGHAI, Jun. 12 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,870-15,900/mt Tuesday, and low-iron aluminum was traded between RMB 15,960-15,980/mt in Shanghai. SHFE aluminum prices opened lower influenced by falling LME aluminum prices. Although decline of the SHFE current-month aluminum contract price narrowed during spot aluminum trading hours, resistance was evident at RMB 15,900/mt. Cargo holders were moving goods actively with spot discounts over the SHFE aluminum prices expanding to RMB 30/mt. However, buying interest downstream remained unimproved, and trading was still light.

Key Words:  spot aluminum   aluminum price 

East China Aluminum: Futures Prices Meet Resistance to Rise

SMM Insight 03:34:39PM Jun 12, 2012 Source:SMM

SHANGHAI, Jun. 12 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,870-15,900/mt Tuesday, and low-iron aluminum was traded between RMB 15,960-15,980/mt in Shanghai. SHFE aluminum prices opened lower influenced by falling LME aluminum prices. Although decline of the SHFE current-month aluminum contract price narrowed during spot aluminum trading hours, resistance was evident at RMB 15,900/mt. Cargo holders were moving goods actively with spot discounts over the SHFE aluminum prices expanding to RMB 30/mt. However, buying interest downstream remained unimproved, and trading was still light.

Key Words:  spot aluminum   aluminum price