East China Aluminum: Low-End Price Stabilizes on Moderate Restocking-Shanghai Metals Market

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East China Aluminum: Low-End Price Stabilizes on Moderate Restocking

SMM Insight 01:24:54PM Apr 03, 2013 Source:SMM

SHANGHAI, Apr. 3 (SMM) – Spot aluminum was mainly traded at RMB 14,410-14,430/mt in Shanghai on Wednesday, a discount of RMB 50-70/mt over SHFE 1304 aluminum contract prices. Low-iron aluminum was traded at RMB 14,580-14,600/mt. SHFE 1304 aluminum contract prices were mired, preventing spot aluminum from rising. However, moderate restocking before the Chinese Qingming holiday did help the low-end price stabilize. Most traders stood on the sidelines, but some remained eager to sell. Overall trading was light. 

East China Aluminum: Low-End Price Stabilizes on Moderate Restocking

SMM Insight 01:24:54PM Apr 03, 2013 Source:SMM

SHANGHAI, Apr. 3 (SMM) – Spot aluminum was mainly traded at RMB 14,410-14,430/mt in Shanghai on Wednesday, a discount of RMB 50-70/mt over SHFE 1304 aluminum contract prices. Low-iron aluminum was traded at RMB 14,580-14,600/mt. SHFE 1304 aluminum contract prices were mired, preventing spot aluminum from rising. However, moderate restocking before the Chinese Qingming holiday did help the low-end price stabilize. Most traders stood on the sidelines, but some remained eager to sell. Overall trading was light.