South China Aluminum: Trading Muted on Bearish Moods-Shanghai Metals Market

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South China Aluminum: Trading Muted on Bearish Moods

SMM Insight 05:21:08PM Jul 09, 2012 Source:SMM

SHANGHAI, Jul. 9 (SMM) – The most active SHFE aluminum price opened lower and attempted to stand above the RMB 15,500/mt line. Although declines in SHFE aluminum prices were pared, spot market remained depressed. Cargo holders were aggressive in selling goods but buying interest was unimproved given weak downstream demand and bearish moods, leaving mainstream traded prices between RMB 15,510-15,530/mt, slightly lower than spot prices in Shanghai. Transactions were quiet in general.

Key Words:  aluminum price 

South China Aluminum: Trading Muted on Bearish Moods

SMM Insight 05:21:08PM Jul 09, 2012 Source:SMM

SHANGHAI, Jul. 9 (SMM) – The most active SHFE aluminum price opened lower and attempted to stand above the RMB 15,500/mt line. Although declines in SHFE aluminum prices were pared, spot market remained depressed. Cargo holders were aggressive in selling goods but buying interest was unimproved given weak downstream demand and bearish moods, leaving mainstream traded prices between RMB 15,510-15,530/mt, slightly lower than spot prices in Shanghai. Transactions were quiet in general.

Key Words:  aluminum price