South China Aluminum: Traders Lower Prices, Buyers Reluctant to Purchase-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • Zinc
  • Futures movement
  • MMi Iron Ore Port Index
  • Copper
  • Aluminium
  • Copper scrap
  • Stainless steel
  • Nickel
  • Macroeconomics
  • Evening comments
  • Tin
  • Market commentary
  • inventory
  • निकल

South China Aluminum: Traders Lower Prices, Buyers Reluctant to Purchase

SMM Insight 12:28:03AM Jul 07, 2012 Source:SMM

SHANGHAI, Jul. 6 (SMM) – The most active SHFE aluminum prices were not boosted by PBOC's interest rate cuts and presented a weak trend Friday. Spot aluminum ingots in Nanhai were traded between RMB 15,570-15,600/mt. Traders said despite the significant drop in aluminum prices, downstream buyers only purchased as needed since orders and operating rates at downstream enterprises remained unimproved. Meanwhile, spot aluminum inventories in Nanhai rose moderately. Traders were not optimistic on market outlook given the sluggish downstream demand and increasing supply.

Key Words:  aluminum price   spot aluminum 

South China Aluminum: Traders Lower Prices, Buyers Reluctant to Purchase

SMM Insight 12:28:03AM Jul 07, 2012 Source:SMM

SHANGHAI, Jul. 6 (SMM) – The most active SHFE aluminum prices were not boosted by PBOC's interest rate cuts and presented a weak trend Friday. Spot aluminum ingots in Nanhai were traded between RMB 15,570-15,600/mt. Traders said despite the significant drop in aluminum prices, downstream buyers only purchased as needed since orders and operating rates at downstream enterprises remained unimproved. Meanwhile, spot aluminum inventories in Nanhai rose moderately. Traders were not optimistic on market outlook given the sluggish downstream demand and increasing supply.

Key Words:  aluminum price   spot aluminum