South China Aluminum: Prices Resilient, Spot Trading Light-Shanghai Metals Market

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South China Aluminum: Prices Resilient, Spot Trading Light

SMM Insight 03:04:49PM Jan 07, 2013 Source:SMM

SHANGHAI, Jan. 7 (SMM) – SHFE 1303 aluminum contract prices met resistance at RMB 15,300/mt on Monday. Strong expectations for the State Reserve Bureau to purchase aluminum ingot and recent limited arrivals enabled cargo holders to hold back goods, helping spot aluminum prices in Guangdong resist declines. Mainstream traded prices were RMB 15,120-15,140/mt. However, limited downstream restocking left overall trading light.
 

South China Aluminum: Prices Resilient, Spot Trading Light

SMM Insight 03:04:49PM Jan 07, 2013 Source:SMM

SHANGHAI, Jan. 7 (SMM) – SHFE 1303 aluminum contract prices met resistance at RMB 15,300/mt on Monday. Strong expectations for the State Reserve Bureau to purchase aluminum ingot and recent limited arrivals enabled cargo holders to hold back goods, helping spot aluminum prices in Guangdong resist declines. Mainstream traded prices were RMB 15,120-15,140/mt. However, limited downstream restocking left overall trading light.