East China Aluminum: Decline in Aluminum Pares

SMM Insight 02:51:57PM Jun 21, 2012 Source:SMM

SHANGHAI, Jun. 21 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,710-15,730/mt Thursday, and low-iron aluminum was traded between RMB 15,800-15,820/mt in Shanghai. SHFE aluminum prices tested RMB 15,700/mt and were more resilient to declines compared with other metals. Therefore, spot aluminum prices tended to stabilize near RMB 15,700/mt. Sellers and buyers exited market ahead of the Chinese Dragon Boat Festival holiday, but some enterprises downstream still purchased moderately, leading to stable transactions.

East China Aluminum: Decline in Aluminum Pares

SMM Insight 02:51:57PM Jun 21, 2012 Source:SMM

SHANGHAI, Jun. 21 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,710-15,730/mt Thursday, and low-iron aluminum was traded between RMB 15,800-15,820/mt in Shanghai. SHFE aluminum prices tested RMB 15,700/mt and were more resilient to declines compared with other metals. Therefore, spot aluminum prices tended to stabilize near RMB 15,700/mt. Sellers and buyers exited market ahead of the Chinese Dragon Boat Festival holiday, but some enterprises downstream still purchased moderately, leading to stable transactions.