East China Aluminum: Trading Remains Light Ahead of Delivery

SMM Insight 01:29:11PM Jun 14, 2012 Source:SMM

 SHANGHAI, Jun. 14 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,870-15,890/mt Thursday, and low-iron aluminum was traded between RMB 15,950-15,970/mt in Shanghai. Mainstream traded prices of spot aluminum in Hangzhou were between RMB 15,880-15,890/mt, while traded prices in Wuxi were between RMB 15,870-15,890/mt. SHFE aluminum prices moved up after opening lower but met resistance at the 5-day moving average. Supply in spot aluminum market was sufficient, causing spot aluminum prices to fall below RMB 15,900/mt. Sellers were interested in selling goods ahead of the delivery day, but downstream buyers only purchased as needed, leaving transactions muted.
 

East China Aluminum: Trading Remains Light Ahead of Delivery

SMM Insight 01:29:11PM Jun 14, 2012 Source:SMM

 SHANGHAI, Jun. 14 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,870-15,890/mt Thursday, and low-iron aluminum was traded between RMB 15,950-15,970/mt in Shanghai. Mainstream traded prices of spot aluminum in Hangzhou were between RMB 15,880-15,890/mt, while traded prices in Wuxi were between RMB 15,870-15,890/mt. SHFE aluminum prices moved up after opening lower but met resistance at the 5-day moving average. Supply in spot aluminum market was sufficient, causing spot aluminum prices to fall below RMB 15,900/mt. Sellers were interested in selling goods ahead of the delivery day, but downstream buyers only purchased as needed, leaving transactions muted.