South China Aluminum: Prices Plunge with Wait-and-See Sentiment Dominating Market-Shanghai Metals Market

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South China Aluminum: Prices Plunge with Wait-and-See Sentiment Dominating Market

SMM Insight 02:58:54PM Jun 19, 2012 Source:SMM

SHANGHAI, Jun. 19 (SMM) – The most active SHFE aluminum price dropped sharply on Tuesday with strong resistance at RMB 15,800/mt. In the afternoon, SHFE aluminum prices fell further. Trading sentiment remained depressed in South China with traded prices falling below the RMB 16,000/mt mark. Both buyers and sellers stayed out of market with strong wait-and-see sentiment. Transactions were limited on the whole with aluminum prices hovering between RMB 15,950-15,970/mt.

South China Aluminum: Prices Plunge with Wait-and-See Sentiment Dominating Market

SMM Insight 02:58:54PM Jun 19, 2012 Source:SMM

SHANGHAI, Jun. 19 (SMM) – The most active SHFE aluminum price dropped sharply on Tuesday with strong resistance at RMB 15,800/mt. In the afternoon, SHFE aluminum prices fell further. Trading sentiment remained depressed in South China with traded prices falling below the RMB 16,000/mt mark. Both buyers and sellers stayed out of market with strong wait-and-see sentiment. Transactions were limited on the whole with aluminum prices hovering between RMB 15,950-15,970/mt.