East China Aluminum: Selling Interest High, but Buying Interest Low-Shanghai Metals Market

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East China Aluminum: Selling Interest High, but Buying Interest Low

SMM Insight 01:17:28PM Jan 14, 2013 Source:SMM

SHANGHAI, Jan. 14 (SMM) – Spot aluminum was mainly traded at RMB 15,030-15,040/mt in Shanghai on Monday, with discounts at RMB 0-10/mt. Low-iron aluminum was traded at RMB 15,100-15,120/mt. SHFE current-month aluminum contract prices extended losses, causing spot discounts to fall to zero before delivery of SHFE 1301 aluminum contracts and stimulating traders to sell. However, downstream producers and middlemen showed low buying interest, sending traded prices down to RMB 15,030/mt. Divergence among sellers and buyers over prices left overall trading thin. 
 

East China Aluminum: Selling Interest High, but Buying Interest Low

SMM Insight 01:17:28PM Jan 14, 2013 Source:SMM

SHANGHAI, Jan. 14 (SMM) – Spot aluminum was mainly traded at RMB 15,030-15,040/mt in Shanghai on Monday, with discounts at RMB 0-10/mt. Low-iron aluminum was traded at RMB 15,100-15,120/mt. SHFE current-month aluminum contract prices extended losses, causing spot discounts to fall to zero before delivery of SHFE 1301 aluminum contracts and stimulating traders to sell. However, downstream producers and middlemen showed low buying interest, sending traded prices down to RMB 15,030/mt. Divergence among sellers and buyers over prices left overall trading thin.