South China Aluminum: Spot Aluminum Prices Stagnate at RMB 15,350/mt, Trading Improves -Shanghai Metals Market

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South China Aluminum: Spot Aluminum Prices Stagnate at RMB 15,350/mt, Trading Improves

SMM Insight 03:24:33PM Jul 24, 2012 Source:SMM

SHANGHAI, Jul. 24 (SMM) – The most active SHFE aluminum climbed back to RMB 15,400/mt after opening lower on July 24, but failed to rise further due to the lack of  upward momentum from cautious responses from longs. Spot aluminum prices in South China dropped slightly to RMB 15,340-15,360/mt. Downstream processors and middlemen were actively buying at lows, while cargo holders were unwilling to sell at low prices, holding quotations firm at RMB 15,350/mt. Spot aluminum markets in South China suffered smaller losses compared with those in East China and overall trading was relatively active.
 

South China Aluminum: Spot Aluminum Prices Stagnate at RMB 15,350/mt, Trading Improves

SMM Insight 03:24:33PM Jul 24, 2012 Source:SMM

SHANGHAI, Jul. 24 (SMM) – The most active SHFE aluminum climbed back to RMB 15,400/mt after opening lower on July 24, but failed to rise further due to the lack of  upward momentum from cautious responses from longs. Spot aluminum prices in South China dropped slightly to RMB 15,340-15,360/mt. Downstream processors and middlemen were actively buying at lows, while cargo holders were unwilling to sell at low prices, holding quotations firm at RMB 15,350/mt. Spot aluminum markets in South China suffered smaller losses compared with those in East China and overall trading was relatively active.