South China Aluminum: Sluggish Consumption Sends Prices Down to RMB 14,980/Mt-Shanghai Metals Market

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South China Aluminum: Sluggish Consumption Sends Prices Down to RMB 14,980/Mt

SMM Insight 04:54:57PM Jan 29, 2013 Source:SMM

SHANGHAI, Jan. 29 (SMM) – Prices of the most active SHFE aluminum contracts dropped at the bottom on Tuesday, depressing market sentiment. Sluggish downstream consumption in south China weighed down spot aluminum traded prices. Some traders were anxious to sell against growing inventories, driving mainstream traded prices down to RMB 14,980/mt, a premium of only RMB 100/mt over Shanghai. Overall trading was light.
 

South China Aluminum: Sluggish Consumption Sends Prices Down to RMB 14,980/Mt

SMM Insight 04:54:57PM Jan 29, 2013 Source:SMM

SHANGHAI, Jan. 29 (SMM) – Prices of the most active SHFE aluminum contracts dropped at the bottom on Tuesday, depressing market sentiment. Sluggish downstream consumption in south China weighed down spot aluminum traded prices. Some traders were anxious to sell against growing inventories, driving mainstream traded prices down to RMB 14,980/mt, a premium of only RMB 100/mt over Shanghai. Overall trading was light.