South China Aluminum: Downstream Producers Stand on the Sidelines, Prices Edge Down in the Afternoon-Shanghai Metals Market

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South China Aluminum: Downstream Producers Stand on the Sidelines, Prices Edge Down in the Afternoon

SMM Insight 02:46:29PM Apr 22, 2013 Source:SMM

 SHANGHAI, Apr. 22 (SMM) – SHFE 1306 aluminum contract moved in tight ranges in the morning session on Monday, helping spot aluminum resist declines. Downstream producers in south China stood on the sidelines as the week starts, leaving mainstream traded prices stagnant at RMB 14,570/mt. In the afternoon, the most active SHFE aluminum contract inched down due to tumbling copper prices. This caused traders to lower offers to RMB 14,560/mt, and market turned quiet.
 

South China Aluminum: Downstream Producers Stand on the Sidelines, Prices Edge Down in the Afternoon

SMM Insight 02:46:29PM Apr 22, 2013 Source:SMM

 SHANGHAI, Apr. 22 (SMM) – SHFE 1306 aluminum contract moved in tight ranges in the morning session on Monday, helping spot aluminum resist declines. Downstream producers in south China stood on the sidelines as the week starts, leaving mainstream traded prices stagnant at RMB 14,570/mt. In the afternoon, the most active SHFE aluminum contract inched down due to tumbling copper prices. This caused traders to lower offers to RMB 14,560/mt, and market turned quiet.