East China Aluminum: Prices Fall on Rate Cuts-Shanghai Metals Market

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East China Aluminum: Prices Fall on Rate Cuts

SMM Insight 01:26:42PM Jul 06, 2012 Source:SMM

SHANGHAI, Jul. 6 (SMM) – The People’s Bank of China announced June 5 to reduce the benchmark interest rate to reverse the economic slowdown, denting the market. SHFE aluminum prices fell in the morning and traded prices of spot aluminum in Shanghai were mainly between RMB 15,620-15,670/mt Friday, with spot premiums over the SHFE aluminum prices at RMB 0-50/mt. Traders in spot market lowered quotations along with the falling futures prices, but buyers were not interested in purchasing given the ample supply in the market. Transactions tended to be quiet in general.

Key Words:  spot aluminum   aluminum price 

East China Aluminum: Prices Fall on Rate Cuts

SMM Insight 01:26:42PM Jul 06, 2012 Source:SMM

SHANGHAI, Jul. 6 (SMM) – The People’s Bank of China announced June 5 to reduce the benchmark interest rate to reverse the economic slowdown, denting the market. SHFE aluminum prices fell in the morning and traded prices of spot aluminum in Shanghai were mainly between RMB 15,620-15,670/mt Friday, with spot premiums over the SHFE aluminum prices at RMB 0-50/mt. Traders in spot market lowered quotations along with the falling futures prices, but buyers were not interested in purchasing given the ample supply in the market. Transactions tended to be quiet in general.

Key Words:  spot aluminum   aluminum price