East China Aluminum: Spot Quotations Firm, Trading Picks Up-Shanghai Metals Market

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East China Aluminum: Spot Quotations Firm, Trading Picks Up

SMM Insight 02:13:27PM Jul 27, 2012 Source:SMM

 SHANGHAI, Jul. 27 (SMM) – Spot aluminum was mainly traded at RMB 15,450-15,480/mt in Shanghai on July 27, with discounts at RMB 20-50/mt and low-iron aluminum traded at RMB 15,540-15,550/mt. SHFE aluminum continued to rise while the current-month contract tested resistance RMB 15,550/mt. Most cargo holders held quotations firm at RMB 15,460/mt despite the small amount of low-priced imported aluminum. Some traders held back on selling as the month ends. Some downstream enterprises replenished inventories before the weekend, causing trading to improve slightly from the previous trading day.

East China Aluminum: Spot Quotations Firm, Trading Picks Up

SMM Insight 02:13:27PM Jul 27, 2012 Source:SMM

 SHANGHAI, Jul. 27 (SMM) – Spot aluminum was mainly traded at RMB 15,450-15,480/mt in Shanghai on July 27, with discounts at RMB 20-50/mt and low-iron aluminum traded at RMB 15,540-15,550/mt. SHFE aluminum continued to rise while the current-month contract tested resistance RMB 15,550/mt. Most cargo holders held quotations firm at RMB 15,460/mt despite the small amount of low-priced imported aluminum. Some traders held back on selling as the month ends. Some downstream enterprises replenished inventories before the weekend, causing trading to improve slightly from the previous trading day.