East China Aluminum: Aluminum Prices Fail to Rebound with Strong Resistance-Shanghai Metals Market

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East China Aluminum: Aluminum Prices Fail to Rebound with Strong Resistance

SMM Insight 05:32:22PM Jun 18, 2012 Source:SMM

SHANGHAI, Jun. 18 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,870-15,890/mt Monday, and low-iron aluminum was traded between RMB 15,950-15,970/mt in Shanghai. Despite the easing concerns over a Greek exit, worries on European debt issue remained, limiting increases in base metals. SHFE aluminum prices failed to rebound and with strong resistance at RMB 15,900/mt. Consumption in spot aluminum market remained sluggish with downstream buyers purchasing as needed. However, cargo holders were willing to move goods, and mainstream traded prices remained stable. Aluminum prices in Wuxi and Hangzhou touched RMB 15,900/mt. Transactions were limited on the whole.
 

Key Words:  spot aluminum   aluminum price 

East China Aluminum: Aluminum Prices Fail to Rebound with Strong Resistance

SMM Insight 05:32:22PM Jun 18, 2012 Source:SMM

SHANGHAI, Jun. 18 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,870-15,890/mt Monday, and low-iron aluminum was traded between RMB 15,950-15,970/mt in Shanghai. Despite the easing concerns over a Greek exit, worries on European debt issue remained, limiting increases in base metals. SHFE aluminum prices failed to rebound and with strong resistance at RMB 15,900/mt. Consumption in spot aluminum market remained sluggish with downstream buyers purchasing as needed. However, cargo holders were willing to move goods, and mainstream traded prices remained stable. Aluminum prices in Wuxi and Hangzhou touched RMB 15,900/mt. Transactions were limited on the whole.
 

Key Words:  spot aluminum   aluminum price