East China Aluminum: Traders Hurry to Sell as Prices Plunge-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • NPI
  • Zinc
  • Market commentary
  • Production data
  • Macroeconomics
  • Aluminium
  • Morning comments
  • Futures movement
  • Mengtai Group
  • Copper
  • Stainless steel
  • Nickel
  • In the United States
  • trade negotiations

East China Aluminum: Traders Hurry to Sell as Prices Plunge

SMM Insight 01:26:08PM Jan 15, 2013 Source:SMM

SHANGHAI, Jan. 15 (SMM) – Spot aluminum was mainly traded at RMB 14,930-14,950/mt in Shanghai on Tuesday, with premiums at RMB 0-20/mt. Low-iron aluminum was traded at RMB 15,050-15,060/mt. SHFE 1303 aluminum contract prices bucked the trend and lost support at RMB 15,000/mt, souring market sentiment. Mainstream traded prices of spot aluminum dropped RMB 100/mt as a result. Traders were in a hurry to sell at the same price as the current-month contract. Downstream producers purchased only as needed, with only middlemen active in bargain-hunting. Trading was brisk at RMB 14,930/mt.
 

East China Aluminum: Traders Hurry to Sell as Prices Plunge

SMM Insight 01:26:08PM Jan 15, 2013 Source:SMM

SHANGHAI, Jan. 15 (SMM) – Spot aluminum was mainly traded at RMB 14,930-14,950/mt in Shanghai on Tuesday, with premiums at RMB 0-20/mt. Low-iron aluminum was traded at RMB 15,050-15,060/mt. SHFE 1303 aluminum contract prices bucked the trend and lost support at RMB 15,000/mt, souring market sentiment. Mainstream traded prices of spot aluminum dropped RMB 100/mt as a result. Traders were in a hurry to sell at the same price as the current-month contract. Downstream producers purchased only as needed, with only middlemen active in bargain-hunting. Trading was brisk at RMB 14,930/mt.