East China Aluminum: Rebound of SHFE 1212 Aluminum Contract Supports Spot Aluminum Prices-Shanghai Metals Market

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East China Aluminum: Rebound of SHFE 1212 Aluminum Contract Supports Spot Aluminum Prices

SMM Insight 01:16:49PM Oct 11, 2012 Source:SMM

SHANGHAI, Oct. 11 (SMM) – Spot aluminum was mainly traded between RMB 15360-15380/mt in Shanghai on Thursday, with discounts between RMB 30-10/mt. Low-iron aluminum was traded near 15420/mt. Cargo holders held prices firm at RMB 15,360/m as the SHFE 1212 aluminum contract rose after initially dropping. Traded prices were near RMB 15,350/mt in Wuxi and Hangzhou as traders were eager to move goods for cash. Buying interest among downstream producers and middlemen was tepid, leaving trading unimproved. 
 

East China Aluminum: Rebound of SHFE 1212 Aluminum Contract Supports Spot Aluminum Prices

SMM Insight 01:16:49PM Oct 11, 2012 Source:SMM

SHANGHAI, Oct. 11 (SMM) – Spot aluminum was mainly traded between RMB 15360-15380/mt in Shanghai on Thursday, with discounts between RMB 30-10/mt. Low-iron aluminum was traded near 15420/mt. Cargo holders held prices firm at RMB 15,360/m as the SHFE 1212 aluminum contract rose after initially dropping. Traded prices were near RMB 15,350/mt in Wuxi and Hangzhou as traders were eager to move goods for cash. Buying interest among downstream producers and middlemen was tepid, leaving trading unimproved.