East China Aluminum: Prices Slipped on Strong Bearishness-Shanghai Metals Market

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East China Aluminum: Prices Slipped on Strong Bearishness

SMM Insight 01:06:05PM Apr 01, 2013 Source:SMM

SHANGHAI, Apr. 1 (SMM) – Spot aluminum was mainly traded at RMB 14,390-14,420/mt in Shanghai on Monday, a discount of RMB 50-80/mt over SHFE 1304 aluminum contract prices. Low-iron aluminum was traded around RMB 14,600/mt. China’s manufacturing PMI for March rose less than expected, dragging down SHFE aluminum and fanning bearish sentiment. Traders were in a hurry to sell, but downstream producers stayed out of the market, despite increasing liquidity at the start of the new month. This drove spot aluminum down to RMB 14,400/mt, with a few transactions even concluded at RMB 14,390/mt. Further price declines are expected.

 

Price

more
1# Zinc
Oct.18
18810.0
-10.0
(-0.05%)
0# Zinc
Oct.18
18880.0
-10.0
(-0.05%)
T/C for domestic zinc concentrate
Oct.01
6325.0
0.0
(0.00%)
T/C for imported zinc concentrate
Oct.01
280.0
0.0
(0.00%)
Zinc Alloy (Zamak3/ZX01)
Oct.18
19780.0
-10.0
(-0.05%)

East China Aluminum: Prices Slipped on Strong Bearishness

SMM Insight 01:06:05PM Apr 01, 2013 Source:SMM

SHANGHAI, Apr. 1 (SMM) – Spot aluminum was mainly traded at RMB 14,390-14,420/mt in Shanghai on Monday, a discount of RMB 50-80/mt over SHFE 1304 aluminum contract prices. Low-iron aluminum was traded around RMB 14,600/mt. China’s manufacturing PMI for March rose less than expected, dragging down SHFE aluminum and fanning bearish sentiment. Traders were in a hurry to sell, but downstream producers stayed out of the market, despite increasing liquidity at the start of the new month. This drove spot aluminum down to RMB 14,400/mt, with a few transactions even concluded at RMB 14,390/mt. Further price declines are expected.