Metals News
East China Aluminum: Gains Curbed on Limited Pre-Holiday Restocking
smm insight
01:20PM
Apr 2,2013
Source:SMM

SHANGHAI, Apr. 2 (SMM) – Spot aluminum was mainly traded at RMB 14,410-14,430/mt in Shanghai on Tuesday, a discount of RMB 50-70/mt over SHFE 1304 aluminum contract prices. Low-iron aluminum was traded around RMB 14,610/mt. SHFE aluminum met resistance, curbing gains of spot aluminum. Traders rushed to move goods against sluggish downstream consumption, leaving mainstream traded prices stagnant at RMB 14,410/mt in Shanghai and RMB 14,430/mt in Wuxi and Hangzhou. Overall trading is expected to remain thin before the Chinese Qingming holiday.

 

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