East China Aluminum: Upside Room Limited due to Anemic Demand-Shanghai Metals Market

Hot Keywords

  • Zinc
  • MMi Iron Ore Port Index
  • Nickel
  • Aluminium
  • Inventory data
  • Futures movement
  • trend forecast
  • Rare earths
  • Evening comments
  • Wanbao Minerals
  • Stainless steel spot
  • Macroeconomics
  • Copper
  • price
  • SMM brief review

East China Aluminum: Upside Room Limited due to Anemic Demand

SMM Insight 12:47:39PM Mar 13, 2013 Source:SMM

SHANGHAI, Mar. 13 (SMM) – Spot aluminum was mainly traded at RMB 14,540-14,550/mt in Shanghai on Wednesday, with discounts at RMB 70-90/mt. Low-iron aluminum was traded around RMB 14,700/mt. SHFE 1306 aluminum contract prices shot up, but spot aluminum prices rose only slightly, with strong resistance felt at RMB 14,550/mt due to sluggish consumption. Only middlemen were modestly interested in bargain-hunting amid high discounts, leaving overall trading moderate. 
 

East China Aluminum: Upside Room Limited due to Anemic Demand

SMM Insight 12:47:39PM Mar 13, 2013 Source:SMM

SHANGHAI, Mar. 13 (SMM) – Spot aluminum was mainly traded at RMB 14,540-14,550/mt in Shanghai on Wednesday, with discounts at RMB 70-90/mt. Low-iron aluminum was traded around RMB 14,700/mt. SHFE 1306 aluminum contract prices shot up, but spot aluminum prices rose only slightly, with strong resistance felt at RMB 14,550/mt due to sluggish consumption. Only middlemen were modestly interested in bargain-hunting amid high discounts, leaving overall trading moderate.