South China Aluminum: Reluctance in Buying Drags Price Down-Shanghai Metals Market

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South China Aluminum: Reluctance in Buying Drags Price Down

SMM Insight 03:53:16PM Jul 12, 2012 Source:SMM

SHANGHAI, Jul. 12 (SMM) – The most active SHFE aluminum price struggled at RMB 15,500/mt on Thursday. In South China, the grim export conditions resulted in excessive inventories at downstream enterprises, discouraging enterprises from operating and in turn lowering downstream buying interest. Mainstream traded prices for spot aluminum fell to RMB 15,430-15,460/mt due to the extremely weak consumption, causing discounts over spot prices in Shanghai to expand to RMB 100/mt. Transactions remained quiet.

South China Aluminum: Reluctance in Buying Drags Price Down

SMM Insight 03:53:16PM Jul 12, 2012 Source:SMM

SHANGHAI, Jul. 12 (SMM) – The most active SHFE aluminum price struggled at RMB 15,500/mt on Thursday. In South China, the grim export conditions resulted in excessive inventories at downstream enterprises, discouraging enterprises from operating and in turn lowering downstream buying interest. Mainstream traded prices for spot aluminum fell to RMB 15,430-15,460/mt due to the extremely weak consumption, causing discounts over spot prices in Shanghai to expand to RMB 100/mt. Transactions remained quiet.