South China Aluminum: Cargo Holders Holds Quotations Firm, Transactions Limited-Shanghai Metals Market

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South China Aluminum: Cargo Holders Holds Quotations Firm, Transactions Limited

SMM Insight 06:19:29PM Jul 02, 2012 Source:SMM

SHANGHAI, Jul. 2 (SMM) – The most active SHFE aluminum price continued rallying but met strong resistance at RMB 15,500/mt on Monday. In South China, cargo holders in spot aluminum market became less willing to move goods at lower prices as financial pressures eased in early month and held prices at RMB 15,600/mt. However, downstream buying interest did recover, leaving mainstream traded prices between RMB 15,600-15,620/mt. Transactions were limited on the whole.

South China Aluminum: Cargo Holders Holds Quotations Firm, Transactions Limited

SMM Insight 06:19:29PM Jul 02, 2012 Source:SMM

SHANGHAI, Jul. 2 (SMM) – The most active SHFE aluminum price continued rallying but met strong resistance at RMB 15,500/mt on Monday. In South China, cargo holders in spot aluminum market became less willing to move goods at lower prices as financial pressures eased in early month and held prices at RMB 15,600/mt. However, downstream buying interest did recover, leaving mainstream traded prices between RMB 15,600-15,620/mt. Transactions were limited on the whole.