South China Aluminum: Dip-Buying Pushes Up Spot Prices

Nov 14, 2012 10:00

The SHFE 1301 aluminum contract opened higher on Tuesday on news that the State Reserve Bureau will buy primary aluminum ingot, but failed to rise further.

SHANGHAI, Nov. 13 (SMM) – The SHFE 1301 aluminum contract opened higher on Tuesday on news that the State Reserve Bureau will buy primary aluminum ingot, but failed to rise further, curbing gains of spot aluminum prices. Traders in Guangdong held back goods, helping push mainstream traded prices up to RMB 15,110-15,130/mt, a premium of RMB 40/mt over Shanghai. Bargain-hunting by downstream producers and middlemen did help improve overall trading.

south China aluminum prices

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South China Aluminum: Dip-Buying Pushes Up Spot Prices

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