East China Aluminum: Prices Stagnant on Limited Restocking-Shanghai Metals Market

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East China Aluminum: Prices Stagnant on Limited Restocking

SMM Insight 01:13:54PM Jan 11, 2013 Source:SMM

SHANGHAI, Jan. 11 (SMM) – Spot aluminum was mainly traded at RMB 15,040-15,060/mt in Shanghai on Friday, with discounts at RMB 0-20/mt. Low-iron aluminum was traded at RMB 15,110-15,130/mt. SHFE aluminum prices rose much slower than LME aluminum prices as the rebound of China’s December CPI dashes hopes of monetary policy easing in the near term. Limited downstream restocking curbed upward momentum of spot aluminum prices, with mainstream traded prices down to RMB 15,040/mt. Overall trading was thin.
 

East China Aluminum: Prices Stagnant on Limited Restocking

SMM Insight 01:13:54PM Jan 11, 2013 Source:SMM

SHANGHAI, Jan. 11 (SMM) – Spot aluminum was mainly traded at RMB 15,040-15,060/mt in Shanghai on Friday, with discounts at RMB 0-20/mt. Low-iron aluminum was traded at RMB 15,110-15,130/mt. SHFE aluminum prices rose much slower than LME aluminum prices as the rebound of China’s December CPI dashes hopes of monetary policy easing in the near term. Limited downstream restocking curbed upward momentum of spot aluminum prices, with mainstream traded prices down to RMB 15,040/mt. Overall trading was thin.