East China Aluminum: Gains Curbed on Limited Pre-Holiday Restocking-Shanghai Metals Market

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East China Aluminum: Gains Curbed on Limited Pre-Holiday Restocking

SMM Insight 01:20:03PM Apr 02, 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.

 

East China Aluminum: Gains Curbed on Limited Pre-Holiday Restocking

SMM Insight 01:20:03PM Apr 02, 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.