East China Aluminum: Spot Trading Improves on Increased Stock Purchases-Shanghai Metals Market

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East China Aluminum: Spot Trading Improves on Increased Stock Purchases

SMM Insight 01:19:15PM Oct 09, 2012 Source:SMM

SHANGHAI, Oct. 9 (SMM) – Spot aluminum was mainly traded between RMB 15,430-15,450/mt in Shanghai on Tuesday, with discounts between RMB 50-30/mt. Low-iron aluminum was traded at RMB 15,510-15,520/mt. The decline of the current-month contract dragged down spot aluminum prices. Downstream producers and middlemen build stocks mildly, while cargo holders held prices firm at RMB 15,440/mt, helping spot discounts to narrow within RMB 50/mt. Still, some traders lowered prices to cash in. Trading improved from a day earlier. 
 

East China Aluminum: Spot Trading Improves on Increased Stock Purchases

SMM Insight 01:19:15PM Oct 09, 2012 Source:SMM

SHANGHAI, Oct. 9 (SMM) – Spot aluminum was mainly traded between RMB 15,430-15,450/mt in Shanghai on Tuesday, with discounts between RMB 50-30/mt. Low-iron aluminum was traded at RMB 15,510-15,520/mt. The decline of the current-month contract dragged down spot aluminum prices. Downstream producers and middlemen build stocks mildly, while cargo holders held prices firm at RMB 15,440/mt, helping spot discounts to narrow within RMB 50/mt. Still, some traders lowered prices to cash in. Trading improved from a day earlier.