South China Aluminum: Panic Selling Causes Aluminum Price Plummet -Shanghai Metals Market

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South China Aluminum: Panic Selling Causes Aluminum Price Plummet

SMM Insight 04:37:40PM Jun 27, 2012 Source:SMM

SHANGHAI, Jun. 27 (SMM) – The most active SHFE aluminum contract price fell below the RMB 15,000/mt mark, fueling panic selling in spot aluminum market. As a result, spot offers in South China plunged with the maximum losses close to RMB 400/mt. Traded prices were between RMB 15,260-15,380/mt. Downstream buyers remained the bearish outlook despite the falling prices and showed no intention of inquiring and buying, leaving transactions quiet.

Key Words:  SHFE lead   lead price 

South China Aluminum: Panic Selling Causes Aluminum Price Plummet

SMM Insight 04:37:40PM Jun 27, 2012 Source:SMM

SHANGHAI, Jun. 27 (SMM) – The most active SHFE aluminum contract price fell below the RMB 15,000/mt mark, fueling panic selling in spot aluminum market. As a result, spot offers in South China plunged with the maximum losses close to RMB 400/mt. Traded prices were between RMB 15,260-15,380/mt. Downstream buyers remained the bearish outlook despite the falling prices and showed no intention of inquiring and buying, leaving transactions quiet.

Key Words:  SHFE lead   lead price