East China Aluminum: Prices Down on Renewed Market Worries-Shanghai Metals Market

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East China Aluminum: Prices Down on Renewed Market Worries

SMM Insight 02:33:02PM Feb 01, 2013 Source:SMM

SHANGHAI, Feb. 1 (SMM) – Spot aluminum was mainly traded at RMB 14,910-14,920/mt in Shanghai on Friday, with discounts at RMB 80-90/mt. Low-iron aluminum was traded at RMB 15,000-15,010/mt. China’s manufacturing PMI dropped unexpectedly in January, rekindling market worries. SHFE 1304 aluminum contract prices fell as a result, sending spot aluminum prices down to RMB 14,900/mt. Demand remained tepid, while some traders remained aggressive in destocking. Middlemen purchased modestly at lower prices. Overall trading was subdued.
 

East China Aluminum: Prices Down on Renewed Market Worries

SMM Insight 02:33:02PM Feb 01, 2013 Source:SMM

SHANGHAI, Feb. 1 (SMM) – Spot aluminum was mainly traded at RMB 14,910-14,920/mt in Shanghai on Friday, with discounts at RMB 80-90/mt. Low-iron aluminum was traded at RMB 15,000-15,010/mt. China’s manufacturing PMI dropped unexpectedly in January, rekindling market worries. SHFE 1304 aluminum contract prices fell as a result, sending spot aluminum prices down to RMB 14,900/mt. Demand remained tepid, while some traders remained aggressive in destocking. Middlemen purchased modestly at lower prices. Overall trading was subdued.