South China Aluminum: Spot Prices Edge Down on Sour Sentiment-Shanghai Metals Market

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South China Aluminum: Spot Prices Edge Down on Sour Sentiment

SMM Insight 04:54:07PM Nov 19, 2012 Source:SMM

SHANGHAI, Nov. 19 (SMM) – The SHFE 1301 aluminum contract expanded losses in the afternoon, souring market sentiment and sending mainstream traded prices in south China market down to RMB 15,210-15,230/mt. Cargo holders held back goods at lows, helping aluminum prices stay firm above RMB 15,200/mt, a premium of RMB 30/mt over Shanghai. Downstream producers purchased as needed, leaving overall trading moderate.
 

South China Aluminum: Spot Prices Edge Down on Sour Sentiment

SMM Insight 04:54:07PM Nov 19, 2012 Source:SMM

SHANGHAI, Nov. 19 (SMM) – The SHFE 1301 aluminum contract expanded losses in the afternoon, souring market sentiment and sending mainstream traded prices in south China market down to RMB 15,210-15,230/mt. Cargo holders held back goods at lows, helping aluminum prices stay firm above RMB 15,200/mt, a premium of RMB 30/mt over Shanghai. Downstream producers purchased as needed, leaving overall trading moderate.