East China Aluminum: Cargo Holders Refrain from Selling, Downstream Restocking Increases-Shanghai Metals Market

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East China Aluminum: Cargo Holders Refrain from Selling, Downstream Restocking Increases

SMM Insight 01:26:16PM Jan 07, 2013 Source:SMM

SHANGHAI, Jan. 7 (SMM) – Spot aluminum was mainly traded at RMB 15,050-15,070/mt in Shanghai on Monday, with discounts at RMB 30-50/mt. Low-iron aluminum was traded at RMB 15,100-15,120/mt. SHFE 1303 aluminum contract prices edged down, sending spot aluminum prices down as well. Cargo holders still held back goods after the New Year holiday, helping aluminum prices stay firm at RMB 15,050/mt, resilient compared with SHFE aluminum prices. Downstream producers and middlemen replenished some stocks, improving overall trading slightly. 
 

East China Aluminum: Cargo Holders Refrain from Selling, Downstream Restocking Increases

SMM Insight 01:26:16PM Jan 07, 2013 Source:SMM

SHANGHAI, Jan. 7 (SMM) – Spot aluminum was mainly traded at RMB 15,050-15,070/mt in Shanghai on Monday, with discounts at RMB 30-50/mt. Low-iron aluminum was traded at RMB 15,100-15,120/mt. SHFE 1303 aluminum contract prices edged down, sending spot aluminum prices down as well. Cargo holders still held back goods after the New Year holiday, helping aluminum prices stay firm at RMB 15,050/mt, resilient compared with SHFE aluminum prices. Downstream producers and middlemen replenished some stocks, improving overall trading slightly.