East China Aluminum: Aluminum Prices Drop Along with Plummeting Copper Prices-Shanghai Metals Market

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East China Aluminum: Aluminum Prices Drop Along with Plummeting Copper Prices

SMM Insight 01:49:14PM Apr 18, 2013 Source:SMM

SHANGHAI, Apr. 18 (SMM) – Spot aluminum was traded at RMB 14,370-14,400/mt in Shanghai on Thursday, a discount of RMB 70-100/mt over SHFE 1305 aluminum contract. Low-iron aluminum was traded around RMB 14,550/mt. SHFE aluminum dropped along with tumbling copper prices. Some traders in spot market held back goods, but most remained eager to sell at discounts of RMB 100/mt. Downstream producers purchased to need, and middlemen became less interested in low-priced goods, preventing mainstream traded prices from climbing above RMB 14,400/mt.
 

East China Aluminum: Aluminum Prices Drop Along with Plummeting Copper Prices

SMM Insight 01:49:14PM Apr 18, 2013 Source:SMM

SHANGHAI, Apr. 18 (SMM) – Spot aluminum was traded at RMB 14,370-14,400/mt in Shanghai on Thursday, a discount of RMB 70-100/mt over SHFE 1305 aluminum contract. Low-iron aluminum was traded around RMB 14,550/mt. SHFE aluminum dropped along with tumbling copper prices. Some traders in spot market held back goods, but most remained eager to sell at discounts of RMB 100/mt. Downstream producers purchased to need, and middlemen became less interested in low-priced goods, preventing mainstream traded prices from climbing above RMB 14,400/mt.