South China Aluminum: Stock Rebuilding Prevents Prices from Falling further at the Bottom-Shanghai Metals Market

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South China Aluminum: Stock Rebuilding Prevents Prices from Falling further at the Bottom

SMM Insight 03:41:53PM Nov 23, 2012 Source:SMM

SHANGHAI, Nov. 23 (SMM) – The SHFE 1301 aluminum contract was weak in morning session before rebounding slightly in the afternoon. Stock replenishment by some downstream producers in Guangdong helped spot aluminum prices stabilize at RMB 15,100/mt at the bottom. Upside space, however, was limited. Deals were rarely done when prices rose to RMB 15,120/mt. Overall trading improved slightly.
 

South China Aluminum: Stock Rebuilding Prevents Prices from Falling further at the Bottom

SMM Insight 03:41:53PM Nov 23, 2012 Source:SMM

SHANGHAI, Nov. 23 (SMM) – The SHFE 1301 aluminum contract was weak in morning session before rebounding slightly in the afternoon. Stock replenishment by some downstream producers in Guangdong helped spot aluminum prices stabilize at RMB 15,100/mt at the bottom. Upside space, however, was limited. Deals were rarely done when prices rose to RMB 15,120/mt. Overall trading improved slightly.