South China Aluminum: Spot Prices Down on Pessimism amongst Downstream Producers-Shanghai Metals Market

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South China Aluminum: Spot Prices Down on Pessimism amongst Downstream Producers

SMM Insight 03:01:35PM Nov 21, 2012 Source:SMM

SHANGHAI, Nov. 21 (SMM) – The SHFE 1301 aluminum contract continued to drop on Wednesday. Traders were in a hurry to move goods due to tight cash flows at the month’s end. Downstream producers evinced little buying interest due to their bearish views of future prices, driving mainstream traded prices in south China market down to RMB 15,140-15,160/mt, flat with prices in Shanghai. Few deals were completed.
 

South China Aluminum: Spot Prices Down on Pessimism amongst Downstream Producers

SMM Insight 03:01:35PM Nov 21, 2012 Source:SMM

SHANGHAI, Nov. 21 (SMM) – The SHFE 1301 aluminum contract continued to drop on Wednesday. Traders were in a hurry to move goods due to tight cash flows at the month’s end. Downstream producers evinced little buying interest due to their bearish views of future prices, driving mainstream traded prices in south China market down to RMB 15,140-15,160/mt, flat with prices in Shanghai. Few deals were completed.