East China Aluminum: Sufficient Spot Aluminum, Trading Weakens-Shanghai Metals Market

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East China Aluminum: Sufficient Spot Aluminum, Trading Weakens

SMM Insight 02:31:16PM Jul 26, 2012 Source:SMM

SHANGHAI, Jul. 26 (SMM) – Spot aluminum was mainly traded at RMB 15,370-15,390/mt in Shanghai on July 26, with discounts at RMB 20-40/mt and low-iron aluminum traded at RMB 15,420-15,440/mt. SHFE aluminum gained the most among all base metals, but later narrowed its gains. Cargo holders were eager to move goods for cash as the month ends, resulting in sufficient supply. Low buying interest among downstream enterprises and middlemen weakened spot aluminum’s upside space, causing traded prices to stagnate at RMB 15,380/mt. Overall trading weakened from the previous trading day.
 

East China Aluminum: Sufficient Spot Aluminum, Trading Weakens

SMM Insight 02:31:16PM Jul 26, 2012 Source:SMM

SHANGHAI, Jul. 26 (SMM) – Spot aluminum was mainly traded at RMB 15,370-15,390/mt in Shanghai on July 26, with discounts at RMB 20-40/mt and low-iron aluminum traded at RMB 15,420-15,440/mt. SHFE aluminum gained the most among all base metals, but later narrowed its gains. Cargo holders were eager to move goods for cash as the month ends, resulting in sufficient supply. Low buying interest among downstream enterprises and middlemen weakened spot aluminum’s upside space, causing traded prices to stagnate at RMB 15,380/mt. Overall trading weakened from the previous trading day.