South China Aluminum: Spot Fails to Rise Along with Futures -Shanghai Metals Market

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South China Aluminum: Spot Fails to Rise Along with Futures

SMM Insight 05:20:13PM Jun 28, 2012 Source:SMM

SHANGHAI, Jun. 28 (SMM) – The most active SHFE aluminum price rebounded on Thursday. In South China, market remained bearish in the morning with limited upward momentum. Cargo holders lowered quotations to promote sales, but buying interest downstream was low, leaving transactions sparse. Mainstream traded prices in South China were between RMB 15,400-15,460/mt, close to aluminum prices in Shanghai. In the afternoon, SHFE aluminum prices increased, but failed to drive up spot aluminum prices. Transactions remained weak with downstream buyers holding wait-and-see attitude.

South China Aluminum: Spot Fails to Rise Along with Futures

SMM Insight 05:20:13PM Jun 28, 2012 Source:SMM

SHANGHAI, Jun. 28 (SMM) – The most active SHFE aluminum price rebounded on Thursday. In South China, market remained bearish in the morning with limited upward momentum. Cargo holders lowered quotations to promote sales, but buying interest downstream was low, leaving transactions sparse. Mainstream traded prices in South China were between RMB 15,400-15,460/mt, close to aluminum prices in Shanghai. In the afternoon, SHFE aluminum prices increased, but failed to drive up spot aluminum prices. Transactions remained weak with downstream buyers holding wait-and-see attitude.