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Home / Metal News / Aluminium / South China Aluminum: Inventories Up, Prices Test Support at RMB 15,000/Mt
South China Aluminum: Inventories Up, Prices Test Support at RMB 15,000/Mt
Jan 28,2013 14:37
CSTsmm insight
Source:SMM
SHFE 1303 aluminum contract prices dropped, turning investors more bearish towards spot aluminum prices.
SHANGHAI, Jan. 28 (SMM) – SHFE 1303 aluminum contract prices dropped, turning investors more bearish towards spot aluminum prices. Most aluminum processors in south China have closed early for Chinese New Year, eroding demand and causing inventories to grow. Traded prices of spot aluminum fell to test support at RMB 15,000/mt, with mainstream traded prices at RMB 15,010-15,030/mt. Only middlemen were slightly interested in dip-buying, leaving overall trading muted.
south China aluminum prices
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