East China Aluminum: SHFE aluminum Weak, Selling Interest High-Shanghai Metals Market

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East China Aluminum: SHFE aluminum Weak, Selling Interest High

SMM Insight 11:54:59AM Oct 31, 2012 Source:SMM

SHANGHAI, Oct. 31 (SMM) – Spot aluminum was mainly traded between RMB 15,130-15,180/mt in Shanghai on Wednesday, with discounts between RMB 50-90/mt. Low-iron aluminum was traded between RMB 15,200-15,220/mt. SHFE 1212 aluminum contract prices lacked upward momentum to rebound, deepening bearish sentiment in spot aluminum market. Cargo holders remained active in moving goods even on the last trading day of the month, causing spot discounts to expand. Prices for some deliverable brand goods were firm at RMB 15,180/mt. Low downstream buying interest depressed overall trading.
 

East China Aluminum: SHFE aluminum Weak, Selling Interest High

SMM Insight 11:54:59AM Oct 31, 2012 Source:SMM

SHANGHAI, Oct. 31 (SMM) – Spot aluminum was mainly traded between RMB 15,130-15,180/mt in Shanghai on Wednesday, with discounts between RMB 50-90/mt. Low-iron aluminum was traded between RMB 15,200-15,220/mt. SHFE 1212 aluminum contract prices lacked upward momentum to rebound, deepening bearish sentiment in spot aluminum market. Cargo holders remained active in moving goods even on the last trading day of the month, causing spot discounts to expand. Prices for some deliverable brand goods were firm at RMB 15,180/mt. Low downstream buying interest depressed overall trading.