East China Aluminum: A Few Transactions Done at High Prices in Wuxi and Hangzhou-Shanghai Metals Market

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East China Aluminum: A Few Transactions Done at High Prices in Wuxi and Hangzhou

SMM Insight 02:10:53PM Jun 13, 2012 Source:SMM

SHANGHAI, Jun. 13 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,870-15,900/mt Wednesday, and low-iron aluminum was traded between RMB 15,960-15,980/mt in Shanghai. SHFE aluminum prices edged up slightly, supporting spot aluminum prices. However, given the oversupply in the market, aluminum prices in Shanghai were under resistance at RMB 15,900/mt, while aluminum prices in Wuxi and Hangzhou hovered around RMB 15,900/mt. A few transactions were done at higher prices in Wuxi and Hangzhou, but trading showed no remarkable improvements.

East China Aluminum: A Few Transactions Done at High Prices in Wuxi and Hangzhou

SMM Insight 02:10:53PM Jun 13, 2012 Source:SMM

SHANGHAI, Jun. 13 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,870-15,900/mt Wednesday, and low-iron aluminum was traded between RMB 15,960-15,980/mt in Shanghai. SHFE aluminum prices edged up slightly, supporting spot aluminum prices. However, given the oversupply in the market, aluminum prices in Shanghai were under resistance at RMB 15,900/mt, while aluminum prices in Wuxi and Hangzhou hovered around RMB 15,900/mt. A few transactions were done at higher prices in Wuxi and Hangzhou, but trading showed no remarkable improvements.