South China Aluminum: Trading Picks Up, Spot Aluminum Suffers Less -Shanghai Metals Market

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South China Aluminum: Trading Picks Up, Spot Aluminum Suffers Less

SMM Insight 03:37:36PM Jul 25, 2012 Source:SMM

SHANGHAI, Jul. 25 (SMM) – The most active SHFE aluminum plunged to a low of RMB 15,200/mt in early trading on July 25. Cargo holders in spot aluminum markets in South China were unwilling to sell at lows, holding quotations firm at RMB 15,300/mt. Buying interest was relatively high among downstream enterprises and middlemen, causing smaller declines compared with other domestic aluminum markets. Mainstream traded prices were at RMB 15,280-15,320/mt, almost flat with Shanghai. Overall trading was light.
 

South China Aluminum: Trading Picks Up, Spot Aluminum Suffers Less

SMM Insight 03:37:36PM Jul 25, 2012 Source:SMM

SHANGHAI, Jul. 25 (SMM) – The most active SHFE aluminum plunged to a low of RMB 15,200/mt in early trading on July 25. Cargo holders in spot aluminum markets in South China were unwilling to sell at lows, holding quotations firm at RMB 15,300/mt. Buying interest was relatively high among downstream enterprises and middlemen, causing smaller declines compared with other domestic aluminum markets. Mainstream traded prices were at RMB 15,280-15,320/mt, almost flat with Shanghai. Overall trading was light.