East China Aluminum: Spot Trading Remains Thin Despite Resilient Prices

Oct 23, 2012 13:26

Spot aluminum was mainly traded between RMB 15,270-15,290/mt in Shanghai on Tuesday, with discounts between RMB 80-100/mt.

SHANGHAI, Oct. 23 (SMM) – Spot aluminum was mainly traded between RMB 15,270-15,290/mt in Shanghai on Tuesday, with discounts between RMB 80-100/mt. Low-iron aluminum was traded between RMB 15,340-15,350/mt. The current-month contract rebounded immediately after plunging and was resilient to declines compared with other base metals, so spot aluminum prices had limited downside space, but met strong resistance at RMB 15,300/mt. Downstream processors purchased as needed against ample supply, leaving trading light.

Shanghai aluminum prices

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East China Aluminum: Spot Trading Remains Thin Despite Resilient Prices

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