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East China Aluminum: Spot Prices Inch Down on Oversupply
Oct 24, 2012 13:25Source:SMM
Spot aluminum was mainly traded between RMB 15,260-15,280/mt in Shanghai on Wednesday, with discounts between RMB 70-90/mt.
SHANGHAI, Oct. 24 (SMM) – Spot aluminum was mainly traded between RMB 15,260-15,280/mt in Shanghai on Wednesday, with discounts between RMB 70-90/mt. Low-iron aluminum was traded between RMB 15,330-15,340/mt. The most active SHFE aluminum contract bucked the trend by edging up, but bearish sentiment remained strong in spot market. Cargo holders were aggressively moving goods at lower prices due to tight cash flows at the month’s end, but buying interest from downstream producers and middlemen was limited, leaving trading light.
Shanghai spot aluminum prices
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