South China Aluminum: Dip-Buying Pushes Up Spot Prices-Shanghai Metals Market

Hot Keywords

  • Zinc
  • MMi Iron Ore Port Index
  • Nickel
  • Aluminium
  • Inventory data
  • Futures movement
  • trend forecast
  • Rare earths
  • Evening comments
  • Wanbao Minerals
  • Stainless steel spot
  • Macroeconomics
  • Copper
  • price
  • SMM brief review

South China Aluminum: Dip-Buying Pushes Up Spot Prices

SMM Insight 10:00:56AM Nov 14, 2012 Source:SMM

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: Dip-Buying Pushes Up Spot Prices

SMM Insight 10:00:56AM Nov 14, 2012 Source:SMM

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.