East China Aluminum: Gains Limited Due to Bearish Sentiment-Shanghai Metals Market

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East China Aluminum: Gains Limited Due to Bearish Sentiment

SMM Insight 01:23:35PM Apr 19, 2013 Source:SMM

SHANGHAI, Apr. 19 (SMM) – Spot aluminum was traded at RMB 14,400-14,420/mt in Shanghai on Friday, a discount of RMB 80-110/mt over SHFE 1305 aluminum contract. Low-iron aluminum was traded around RMB 14,580/mt. SHFE 1306 aluminum contract moved lower after a high opening. Traders were eager to sell, but downstream producers and middlemen expressed little interest, leaving mainstream traded prices stagnant at RMB 14,400/mt.
 

East China Aluminum: Gains Limited Due to Bearish Sentiment

SMM Insight 01:23:35PM Apr 19, 2013 Source:SMM

SHANGHAI, Apr. 19 (SMM) – Spot aluminum was traded at RMB 14,400-14,420/mt in Shanghai on Friday, a discount of RMB 80-110/mt over SHFE 1305 aluminum contract. Low-iron aluminum was traded around RMB 14,580/mt. SHFE 1306 aluminum contract moved lower after a high opening. Traders were eager to sell, but downstream producers and middlemen expressed little interest, leaving mainstream traded prices stagnant at RMB 14,400/mt.