East China Aluminum: Trading Light as Buyers and Sellers Disagree over Price-Shanghai Metals Market

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East China Aluminum: Trading Light as Buyers and Sellers Disagree over Price

SMM Insight 01:01:31PM Jan 21, 2013 Source:SMM

SHANGHAI, Jan. 21 (SMM) – Spot aluminum was mainly traded at RMB 14,950-14,960/mt in Shanghai on Monday, with discounts at RMB 120-130/mt. Low-iron aluminum was traded at RMB 15,050-15,060/mt. SHFE 1303 aluminum contract prices moved lower after a high opening, dampening market sentiment. Downstream restocking for the upcoming Chinese New Year was limited, while cargo holders were less willing to sell at lower prices, leaving mainstream traded prices stagnant at RMB 14,950/mt. Overall trading was light. 
 

East China Aluminum: Trading Light as Buyers and Sellers Disagree over Price

SMM Insight 01:01:31PM Jan 21, 2013 Source:SMM

SHANGHAI, Jan. 21 (SMM) – Spot aluminum was mainly traded at RMB 14,950-14,960/mt in Shanghai on Monday, with discounts at RMB 120-130/mt. Low-iron aluminum was traded at RMB 15,050-15,060/mt. SHFE 1303 aluminum contract prices moved lower after a high opening, dampening market sentiment. Downstream restocking for the upcoming Chinese New Year was limited, while cargo holders were less willing to sell at lower prices, leaving mainstream traded prices stagnant at RMB 14,950/mt. Overall trading was light.