East China Aluminum: Prices Resilient, But Trading Light-Shanghai Metals Market

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East China Aluminum: Prices Resilient, But Trading Light

SMM Insight 03:42:35PM Apr 23, 2013 Source:SMM

SHANGHAI, Apr. 23 (SMM) – Spot aluminum was traded at RMB 14,400-14,420/mt in Shanghai on Tuesday, a discount of RMB 90-110/mt over SHFE 1305 aluminum contract. Low-iron aluminum was traded around RMB 14,580/mt. HSBC’s preliminary China PMI for April fell sharply, but SHFE 1306 aluminum contract remained resilient, helping spot aluminum stay firm at RMB 14,400/mt for three straight days. However, downstream buying interest was low. Only middlemen purchased limited amounted at low prices. 
 

East China Aluminum: Prices Resilient, But Trading Light

SMM Insight 03:42:35PM Apr 23, 2013 Source:SMM

SHANGHAI, Apr. 23 (SMM) – Spot aluminum was traded at RMB 14,400-14,420/mt in Shanghai on Tuesday, a discount of RMB 90-110/mt over SHFE 1305 aluminum contract. Low-iron aluminum was traded around RMB 14,580/mt. HSBC’s preliminary China PMI for April fell sharply, but SHFE 1306 aluminum contract remained resilient, helping spot aluminum stay firm at RMB 14,400/mt for three straight days. However, downstream buying interest was low. Only middlemen purchased limited amounted at low prices.