South China Aluminum: Traders Hold Back Goods, Middlemen Go Bargain Hunting-Shanghai Metals Market

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South China Aluminum: Traders Hold Back Goods, Middlemen Go Bargain Hunting

SMM Insight 04:20:12PM Apr 18, 2013 Source:SMM

SHANGHAI, Apr. 18 (SMM) – SHFE 1306 aluminum contract tumbled along with plummeting copper prices on Thursday, but immediately narrowed losses. Cargo holders in south China held to the sidelines, with offers firm at RMB 14,540/mt, more resilient compared with east China. Purchases by downstream producers were stable, while middlemen were highly interested in low-priced goods, leaving trading brisk. Both sides were cautious about future prices, though.
 

South China Aluminum: Traders Hold Back Goods, Middlemen Go Bargain Hunting

SMM Insight 04:20:12PM Apr 18, 2013 Source:SMM

SHANGHAI, Apr. 18 (SMM) – SHFE 1306 aluminum contract tumbled along with plummeting copper prices on Thursday, but immediately narrowed losses. Cargo holders in south China held to the sidelines, with offers firm at RMB 14,540/mt, more resilient compared with east China. Purchases by downstream producers were stable, while middlemen were highly interested in low-priced goods, leaving trading brisk. Both sides were cautious about future prices, though.