South China Aluminum: Selling Interest Remains Low, Spot Prices Edge Up-Shanghai Metals Market

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South China Aluminum: Selling Interest Remains Low, Spot Prices Edge Up

SMM Insight 02:47:02PM Jul 30, 2012 Source:SMM

SHANGHAI, Jul. 30 (SMM) – The most active SHFE aluminum contract met resistance at RMB 15,500/mt on July 30. Investors stayed cautious in spot aluminum markets. Some cargo holders were unwilling to sell at lows, holding quotations firm and leaving mainstream traded prices at RMB 15,440-15,480/mt. Downstream consumption was weak as the month ends. Overall trading improved due to short supply of low-priced goods.
 

South China Aluminum: Selling Interest Remains Low, Spot Prices Edge Up

SMM Insight 02:47:02PM Jul 30, 2012 Source:SMM

SHANGHAI, Jul. 30 (SMM) – The most active SHFE aluminum contract met resistance at RMB 15,500/mt on July 30. Investors stayed cautious in spot aluminum markets. Some cargo holders were unwilling to sell at lows, holding quotations firm and leaving mainstream traded prices at RMB 15,440-15,480/mt. Downstream consumption was weak as the month ends. Overall trading improved due to short supply of low-priced goods.