East China Aluminum: Quotations Firm, Low-priced Goods Rarely Seen-Shanghai Metals Market

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East China Aluminum: Quotations Firm, Low-priced Goods Rarely Seen

SMM Insight 02:14:24PM Jul 25, 2012 Source:SMM

SHANGHAI, Jul. 25 (SMM) – Spot aluminum was mainly traded at RMB 15,300-15,350/mt in Shanghai on July 25, with discounts at RMB 10-40/mt and low-iron aluminum traded at RMB 15,350-15,400/mt. SHFE aluminum dropped most sharply among base metals, triggering strong bearish sentiment. SHFE aluminum narrowed declines during the spot aluminum trading session, holding cargo holders back from selling at low prices. Sparse trading at RMB 15,280-15,300/mt was seen for a short time. Low-priced domestic aluminum ingots were quite few, sending quotations above RMB 15,350/mt. Downstream enterprises and middlemen were unwilling to buy at highs, causing trading volumes to drop slightly compared with previous trading day.
 

East China Aluminum: Quotations Firm, Low-priced Goods Rarely Seen

SMM Insight 02:14:24PM Jul 25, 2012 Source:SMM

SHANGHAI, Jul. 25 (SMM) – Spot aluminum was mainly traded at RMB 15,300-15,350/mt in Shanghai on July 25, with discounts at RMB 10-40/mt and low-iron aluminum traded at RMB 15,350-15,400/mt. SHFE aluminum dropped most sharply among base metals, triggering strong bearish sentiment. SHFE aluminum narrowed declines during the spot aluminum trading session, holding cargo holders back from selling at low prices. Sparse trading at RMB 15,280-15,300/mt was seen for a short time. Low-priced domestic aluminum ingots were quite few, sending quotations above RMB 15,350/mt. Downstream enterprises and middlemen were unwilling to buy at highs, causing trading volumes to drop slightly compared with previous trading day.