South China Aluminum: Spot Trading Quiet on Low Buying Interest-Shanghai Metals Market

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South China Aluminum: Spot Trading Quiet on Low Buying Interest

SMM Insight 02:46:10PM Aug 06, 2012 Source:SMM

SHANGHAI, Aug. 6 (SMM) – The most active SHFE aluminum contract retreated below RMB 15,400/mt after a high open on August 6, dampening confidence in spot aluminum markets. Cargo holders were eager to move goods in spot aluminum markets in South China, but wait-and-see sentiment was strong among downstream processors. As a result, spot traded prices were dragged to RMB 15,430-15,460/mt. Overall trading was quiet.
 

South China Aluminum: Spot Trading Quiet on Low Buying Interest

SMM Insight 02:46:10PM Aug 06, 2012 Source:SMM

SHANGHAI, Aug. 6 (SMM) – The most active SHFE aluminum contract retreated below RMB 15,400/mt after a high open on August 6, dampening confidence in spot aluminum markets. Cargo holders were eager to move goods in spot aluminum markets in South China, but wait-and-see sentiment was strong among downstream processors. As a result, spot traded prices were dragged to RMB 15,430-15,460/mt. Overall trading was quiet.