East China Aluminum: Spot Market Hit by Low Import Prices-Shanghai Metals Market

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East China Aluminum: Spot Market Hit by Low Import Prices

SMM Insight 01:21:14PM Jul 11, 2012 Source:SMM

SHANGHAI, Jul. 11 (SMM) – Mainstream traded prices of spot aluminum in Shanghai were between RMB 15,530-15,560/mt Wednesday, with spot discounts over the SHFE aluminum prices at RMB 50-80/mt, and low-iron aluminum was traded between RMB 15,620-15,640/mt in Shanghai. Spot aluminum prices extended declines under the influence of weak SHFE aluminum. Prices for some imported aluminum were at a low level of RMB 15,500-15,520/mt, hitting spot aluminum market. Coupled with sparse transactions downstream, many cargo holders lowered quotations, leaving spot discounts remaining relatively large despite the approach of delivery. Both sellers and buyers were on the sidelines, resulting in limited deals done.
 

Key Words:  spot aluminum   aluminum price 

East China Aluminum: Spot Market Hit by Low Import Prices

SMM Insight 01:21:14PM Jul 11, 2012 Source:SMM

SHANGHAI, Jul. 11 (SMM) – Mainstream traded prices of spot aluminum in Shanghai were between RMB 15,530-15,560/mt Wednesday, with spot discounts over the SHFE aluminum prices at RMB 50-80/mt, and low-iron aluminum was traded between RMB 15,620-15,640/mt in Shanghai. Spot aluminum prices extended declines under the influence of weak SHFE aluminum. Prices for some imported aluminum were at a low level of RMB 15,500-15,520/mt, hitting spot aluminum market. Coupled with sparse transactions downstream, many cargo holders lowered quotations, leaving spot discounts remaining relatively large despite the approach of delivery. Both sellers and buyers were on the sidelines, resulting in limited deals done.
 

Key Words:  spot aluminum   aluminum price