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East China Aluminum: Traders Anxious to Sell, Spot Prices Down
Mar 27,2013 14:43CST
smm insight
Source:SMM
Spot aluminum was mainly traded at RMB 14,500-14,520/mt in Shanghai on Wednesday, a discount of RMB 60-80/mt over SHFE 1304 aluminum contract prices.

SHANGHAI, Mar. 27 (SMM) – Spot aluminum was mainly traded at RMB 14,500-14,520/mt in Shanghai on Wednesday, a discount of RMB 60-80/mt over SHFE 1304 aluminum contract prices. Low-iron aluminum was traded around RMB 14,700/mt. Traders were anxious to sell due to falling SHFE aluminum and tight cash flows at the quarter’s end, dragging spot aluminum down to RMB 14,500/mt. Downstream producers and middlemen evinced little buying interest, depressing overall trading.

 

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