Home / Metal News /  / East China Aluminum: Prices Extended Gains on Upbeat China Manufacturing PMI
East China Aluminum: Prices Extended Gains on Upbeat China Manufacturing PMI
Mar 21,2013 14:07CST
smm insight
Source:SMM
Spot aluminum was mainly traded at RMB 14,540-14,560/mt in Shanghai on Thursday, a discount of RMB 70-100/mt over SHFE current-month aluminum contract prices.

SHANGHAI, Mar. 21 (SMM) – Spot aluminum was mainly traded at RMB 14,540-14,560/mt in Shanghai on Thursday, a discount of RMB 70-100/mt over SHFE current-month aluminum contract prices. Low-iron aluminum was trade around RMB 14,640/mt. SHFE 1306 aluminum contract prices extended gains due to upbeat preliminary March manufacturing PMI from China. Cargo holders were eager to move goods since they believe aluminum prices will not rise any further in the future. Middlemen went bargain-hunting, while downstream producers purchased only as needed, leaving mainstream traded prices stagnant at RMB 14,550/mt. Overall trading rebounded slightly.
 

Shanghai spot aluminum prices

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn