Metals News
East China Aluminum: Traders Hurry to Sell as Prices Plunge
smm insight
01:26PM
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.
 

Shanghai spot aluminum prices
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