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East China Aluminum: Eagerness to Sell Sent Prices Down
Mar 28,2013 13:04CST
smm insight
Source:SMM
Spot aluminum was mainly traded at RMB 14,480-14,500/mt in Shanghai on Thursday, a discount of RMB 60-80/mt over SHFE 1304 aluminum contract prices.

SHANGHAI, Mar. 28 (SMM) – Spot aluminum was mainly traded at RMB 14,480-14,500/mt in Shanghai on Thursday, a discount of RMB 60-80/mt over SHFE 1304 aluminum contract prices. Low-iron aluminum was traded around RMB 14,680/mt. SHFE 1306 aluminum contract prices met resistance, sending spot aluminum down below RMB 14,500/mt. Traders in Shanghai lowered the end-price to RMB 14,480/mt, while those in Wuxi and Hangzhou held offers firm at RMB 14,500/mt. Downstream producers and middlemen evinced little buying interest, depressing overall trading.

 

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