South China Aluminum: Gains Limited, Downstream Purchases Modest-Shanghai Metals Market

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South China Aluminum: Gains Limited, Downstream Purchases Modest

SMM Insight 06:11:49PM Apr 19, 2013 Source:SMM

SHANGHAI, Apr. 19 (SMM) –SHFE 1306 aluminum contract moved lower after a high opening on Friday, curbing gains of spot aluminum. Traders in south China held offers firm at RMB 14,570/mt, while downstream producers and middlemen purchased modest amounts. In the afternoon, the most active SHFE aluminum rose, allowing cargo holders to hike offers to near RMB 14,600/mt, but high price undermined buying interest. 
 

South China Aluminum: Gains Limited, Downstream Purchases Modest

SMM Insight 06:11:49PM Apr 19, 2013 Source:SMM

SHANGHAI, Apr. 19 (SMM) –SHFE 1306 aluminum contract moved lower after a high opening on Friday, curbing gains of spot aluminum. Traders in south China held offers firm at RMB 14,570/mt, while downstream producers and middlemen purchased modest amounts. In the afternoon, the most active SHFE aluminum rose, allowing cargo holders to hike offers to near RMB 14,600/mt, but high price undermined buying interest.