East China Aluminum: Discount of RMB 100/Mt Reported as Downstream Producers Refuse to Buy at Highs-Shanghai Metals Market

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East China Aluminum: Discount of RMB 100/Mt Reported as Downstream Producers Refuse to Buy at Highs

SMM Insight 03:37:57PM Apr 17, 2013 Source:SMM

SHANGHAI, Apr. 17 (SMM) – Spot aluminum was traded at RMB 14,450-14,470/mt in Shanghai on Wednesday, a discount of RMB 90-110/mt over SHFE 1305 aluminum contract. Low-iron aluminum was traded around RMB 14,620/mt. SHFE 1306 aluminum contract edged down after a high opening, hurting market sentiment. Traders were eager to sell, while downstream producers were cautious about buying at highs, leaving traded prices stagnant. Only middlemen purchased modest amounts at lows.
 

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: Discount of RMB 100/Mt Reported as Downstream Producers Refuse to Buy at Highs

SMM Insight 03:37:57PM Apr 17, 2013 Source:SMM

SHANGHAI, Apr. 17 (SMM) – Spot aluminum was traded at RMB 14,450-14,470/mt in Shanghai on Wednesday, a discount of RMB 90-110/mt over SHFE 1305 aluminum contract. Low-iron aluminum was traded around RMB 14,620/mt. SHFE 1306 aluminum contract edged down after a high opening, hurting market sentiment. Traders were eager to sell, while downstream producers were cautious about buying at highs, leaving traded prices stagnant. Only middlemen purchased modest amounts at lows.