South China Aluminum: Prices Resilient, Middlemen Active in Dip-Buying-Shanghai Metals Market

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South China Aluminum: Prices Resilient, Middlemen Active in Dip-Buying

SMM Insight 03:20:44PM Jan 08, 2013 Source:SMM

SHANGHAI, Jan. 8 (SMM) – SHFE 1303 aluminum contract prices met resistance at RMB 15,300/mt on Tuesday, with little upward momentum. Cargo holders in Guangdong moved little goods, with mainstream traded prices resilient at above RMB 15,100/mt. Downstream producers showed low buying interest, with only middlemen active in dip-buying, bringing traded prices down slightly. Overall trading was limited. 
 

South China Aluminum: Prices Resilient, Middlemen Active in Dip-Buying

SMM Insight 03:20:44PM Jan 08, 2013 Source:SMM

SHANGHAI, Jan. 8 (SMM) – SHFE 1303 aluminum contract prices met resistance at RMB 15,300/mt on Tuesday, with little upward momentum. Cargo holders in Guangdong moved little goods, with mainstream traded prices resilient at above RMB 15,100/mt. Downstream producers showed low buying interest, with only middlemen active in dip-buying, bringing traded prices down slightly. Overall trading was limited.