East China Aluminum: Spot Discounts Narrow Slightly-Shanghai Metals Market

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East China Aluminum: Spot Discounts Narrow Slightly

SMM Insight 02:12:38PM Jul 17, 2012 Source:SMM

SHANGHAI, Jul. 17 (SMM) – Mainstream traded prices of spot aluminum in Shanghai were between RMB 15,560-15,600/mt Tuesday, with spot discounts over the SHFE current-month aluminum contract price remaining at RMB 30-60/mt, and low-iron aluminum was traded between RMB 15,660-15,680/mt in Shanghai. SHFE current-month aluminum contract hovered around RMB 15,630/mt after delivery. In spot aluminum market, cargo holders cut prices for sales due to the weak consumption, but spot discounts only narrowed slightly. Spot aluminum prices in East China were under resistance at the RMB 15,600/mt line. Trading was light on the whole.
 

Key Words:  aluminum price   spot aluminum 

East China Aluminum: Spot Discounts Narrow Slightly

SMM Insight 02:12:38PM Jul 17, 2012 Source:SMM

SHANGHAI, Jul. 17 (SMM) – Mainstream traded prices of spot aluminum in Shanghai were between RMB 15,560-15,600/mt Tuesday, with spot discounts over the SHFE current-month aluminum contract price remaining at RMB 30-60/mt, and low-iron aluminum was traded between RMB 15,660-15,680/mt in Shanghai. SHFE current-month aluminum contract hovered around RMB 15,630/mt after delivery. In spot aluminum market, cargo holders cut prices for sales due to the weak consumption, but spot discounts only narrowed slightly. Spot aluminum prices in East China were under resistance at the RMB 15,600/mt line. Trading was light on the whole.
 

Key Words:  aluminum price   spot aluminum