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South China Aluminum: Spot Premiums over Shanghai Market Disappear on Supply of Low-Priced Goods
Jul 2,2012 15:46CST
smm insight
Source:SMM
As a result, wait-and-see sentiment turned stronger among downstream buyers, leaving trading thin/quiet.

SHANGHAI, Jun. 28 (SMM) - The most active SHFE aluminum rebounded on Thursday, but upward momentum met resistance in the morning, causing strong bearish sentiment in South China spot aluminum market. Cargo holders were eager to move goods with lower quotations, whereas downstream buyers showed little buying interest, leaving mainstream traded prices between RMB15,400-15,460/mt, flat at prices in the Shanghai market. In the afternoon, SHFE aluminum climbed, but spot aluminum remained unchanged. As a result, wait-and-see sentiment turned stronger among downstream buyers, leaving trading thin/quiet.
 

SHFE aluminum
Shanghai aluminum price

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