Metals News
East China Aluminum: Trading Light with Spot Discounts of RMB 50/mt
smm insight
03:23PM
Jul 9,2012
Source:SMM

SHANGHAI, Jul. 9 (SMM) – Traded prices of spot aluminum in Shanghai were mainly between RMB 15,560-15,590/mt Monday, with spot discounts over the SHFE aluminum prices at RMB 40-70/mt, and low-iron aluminum was traded between RMB 15,800-15,820/mt in Shanghai. SHFE aluminum prices gapped lower and tried in vain to rise up. Spot aluminum market remained weak with cargo holders actively lowering goods for sales while downstream buyers still waiting on the sidelines and only purchasing as needed. Traded prices were thus dragged down with spot discounts over SHFE aluminum prices larger than RMB 50/mt. Limited transactions were made on the whole.

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