South China Aluminum: Prices Down on Strong Bearishness-Shanghai Metals Market

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South China Aluminum: Prices Down on Strong Bearishness

SMM Insight 05:20:00PM Jan 22, 2013 Source:SMM

SHANGHAI, Jan. 22 (SMM) – SHFE 1303 aluminum contract prices bucked the trend by falling among base metals on Tuesday, weighing down spot aluminum prices. Traders in south China showed limited interest in selling, while downstream producers exhibited low buying interest. Middlemen, on the other hand, stayed out of the market out of their growing bearishness towards future prices, pushing spot aluminum traded prices down to RMB 15,100/mt. Overall trading was muted.
 

South China Aluminum: Prices Down on Strong Bearishness

SMM Insight 05:20:00PM Jan 22, 2013 Source:SMM

SHANGHAI, Jan. 22 (SMM) – SHFE 1303 aluminum contract prices bucked the trend by falling among base metals on Tuesday, weighing down spot aluminum prices. Traders in south China showed limited interest in selling, while downstream producers exhibited low buying interest. Middlemen, on the other hand, stayed out of the market out of their growing bearishness towards future prices, pushing spot aluminum traded prices down to RMB 15,100/mt. Overall trading was muted.