South China Aluminum: Cargo Holders Hold back Goods on Falling Inventories-Shanghai Metals Market

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South China Aluminum: Cargo Holders Hold back Goods on Falling Inventories

SMM Insight 04:17:50PM Jan 21, 2013 Source:SMM

SHANGHAI, Jan. 21 (SMM) – SHFE 1303 aluminum contract prices pared gains after a high opening on Monday. However, falling aluminum inventories in south China allowed local cargo holders to hold back goods to support prices, helping push traded prices up slightly to RMB 15,120-15,130/mt, a premium of RMB 170/mt over Shanghai. Downstream producers purchased as needed, leaving overall trading stable.
 

South China Aluminum: Cargo Holders Hold back Goods on Falling Inventories

SMM Insight 04:17:50PM Jan 21, 2013 Source:SMM

SHANGHAI, Jan. 21 (SMM) – SHFE 1303 aluminum contract prices pared gains after a high opening on Monday. However, falling aluminum inventories in south China allowed local cargo holders to hold back goods to support prices, helping push traded prices up slightly to RMB 15,120-15,130/mt, a premium of RMB 170/mt over Shanghai. Downstream producers purchased as needed, leaving overall trading stable.