East China Aluminum: Spot Trading Stagnates on Last Trading Day before the Holiday (2013-2-8)-Shanghai Metals Market

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East China Aluminum: Spot Trading Stagnates on Last Trading Day before the Holiday (2013-2-8)

Price Review & Forecast 02:57:59PM Feb 08, 2013 Source:SMM

SHANGHAI, Feb. 8 (SMM) – On Friday, traded prices in the Shanghai spot aluminum market were between RMB 14,800-14,810/mt, and spot discounts were in the RMB 60-50/mt range. Prices of low-Fe aluminum were at RMB 14,920/mt. SHFE aluminum prices were continuing to struggle at the existing price band, and were slower to advance compared with other metals. Spot trading in east China market stagnated on the last trading day before the holiday, with no transactions reported. Supply of low-priced goods, seen a day earlier, was available on Thursday, a sign of strong holiday sentiment. SMM expects high inventories after the holiday will weigh down domestic aluminum prices in the post-holiday market.
 

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SMM #1 Nickel
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108800.0
-1250.0
(-1.14%)
#1 JinChuan Nickel
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110900.0
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106650.0
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4650.0
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East China Aluminum: Spot Trading Stagnates on Last Trading Day before the Holiday (2013-2-8)

Price Review & Forecast 02:57:59PM Feb 08, 2013 Source:SMM

SHANGHAI, Feb. 8 (SMM) – On Friday, traded prices in the Shanghai spot aluminum market were between RMB 14,800-14,810/mt, and spot discounts were in the RMB 60-50/mt range. Prices of low-Fe aluminum were at RMB 14,920/mt. SHFE aluminum prices were continuing to struggle at the existing price band, and were slower to advance compared with other metals. Spot trading in east China market stagnated on the last trading day before the holiday, with no transactions reported. Supply of low-priced goods, seen a day earlier, was available on Thursday, a sign of strong holiday sentiment. SMM expects high inventories after the holiday will weigh down domestic aluminum prices in the post-holiday market.