East China Aluminum: Dealers Facing Sales Pressures But Transactions Remain Quiet -Shanghai Metals Market

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East China Aluminum: Dealers Facing Sales Pressures But Transactions Remain Quiet

SMM Insight 01:44:19PM Jun 15, 2012 Source:SMM

SHANGHAI, Jun. 15 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,870-15,890/mt Friday, 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 15,870-15,890/mt, while traded prices in Wuxi were between RMB 15,880-15,890/mt. The SHFE current-month aluminum contract price moved narrowly between RMB 15,860-15,880/mt. Spot premiums over SHFE aluminum prices were between RMB 0-20/mt in Shanghai. Cargo holders were more willing to move goods ahead of delivery, while most buyers were cautious. Traded prices in Wuxi and Hangzhou were at RMB 15,880/mt. Transactions increased marginally due to replenishments by downstream enterprises prior to weekend, but trading remained quiet in general.

East China Aluminum: Dealers Facing Sales Pressures But Transactions Remain Quiet

SMM Insight 01:44:19PM Jun 15, 2012 Source:SMM

SHANGHAI, Jun. 15 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,870-15,890/mt Friday, 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 15,870-15,890/mt, while traded prices in Wuxi were between RMB 15,880-15,890/mt. The SHFE current-month aluminum contract price moved narrowly between RMB 15,860-15,880/mt. Spot premiums over SHFE aluminum prices were between RMB 0-20/mt in Shanghai. Cargo holders were more willing to move goods ahead of delivery, while most buyers were cautious. Traded prices in Wuxi and Hangzhou were at RMB 15,880/mt. Transactions increased marginally due to replenishments by downstream enterprises prior to weekend, but trading remained quiet in general.