South China Aluminum: Prices Resilient as Cargo Holders Stand on the Sidelines-Shanghai Metals Market

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South China Aluminum: Prices Resilient as Cargo Holders Stand on the Sidelines

SMM Insight 03:07:03PM Jan 15, 2013 Source:SMM

SHANGHAI, Jan. 15 (SMM) – SHFE 1303 aluminum contract prices tumbled as much as RMB 100/mt on Tuesday. Cargo holders in south China watched from the sidelines due to limited inventories, helping spot aluminum resist declines compared with SHFE aluminum prices. Mainstream traded prices fell to RMB 15,080-15,100/mt, a premium of RMB 150/mt over Shanghai. Downstream processors showed moderate interest in buying at lower prices, while middlemen took a wait-and-see stance, leaving overall trading modest.
 

South China Aluminum: Prices Resilient as Cargo Holders Stand on the Sidelines

SMM Insight 03:07:03PM Jan 15, 2013 Source:SMM

SHANGHAI, Jan. 15 (SMM) – SHFE 1303 aluminum contract prices tumbled as much as RMB 100/mt on Tuesday. Cargo holders in south China watched from the sidelines due to limited inventories, helping spot aluminum resist declines compared with SHFE aluminum prices. Mainstream traded prices fell to RMB 15,080-15,100/mt, a premium of RMB 150/mt over Shanghai. Downstream processors showed moderate interest in buying at lower prices, while middlemen took a wait-and-see stance, leaving overall trading modest.