East China Aluminum: Prices Extend Losses, Buyers Resist High Prices-Shanghai Metals Market

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East China Aluminum: Prices Extend Losses, Buyers Resist High Prices

SMM Insight 02:27:59PM Jan 28, 2013 Source:SMM

SHANGHAI, Jan. 28 (SMM) – Spot aluminum was mainly traded at RMB 14,900-14,910/mt in Shanghai on Monday, with discounts at RMB 90-100/mt. Low-iron aluminum was traded around RMB 15,000/mt. SHFE current-month aluminum contracts lost support at RMB 15,000/mt. Cargo holders stood on the sidelines, holding offers firm at RMB 14,900/mt. Downstream producers showed little buying interest, while middlemen were buying modest amounts at bottom prices. Overall trading was light.
 

East China Aluminum: Prices Extend Losses, Buyers Resist High Prices

SMM Insight 02:27:59PM Jan 28, 2013 Source:SMM

SHANGHAI, Jan. 28 (SMM) – Spot aluminum was mainly traded at RMB 14,900-14,910/mt in Shanghai on Monday, with discounts at RMB 90-100/mt. Low-iron aluminum was traded around RMB 15,000/mt. SHFE current-month aluminum contracts lost support at RMB 15,000/mt. Cargo holders stood on the sidelines, holding offers firm at RMB 14,900/mt. Downstream producers showed little buying interest, while middlemen were buying modest amounts at bottom prices. Overall trading was light.