South China Aluminum: Prices Resilient, But Caution Dominates-Shanghai Metals Market

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South China Aluminum: Prices Resilient, But Caution Dominates

SMM Insight 03:44:02PM Apr 23, 2013 Source:SMM

SHANGHAI, Apr. 23 (SMM) – SHFE 1306 aluminum contract was the only resilient metal among base metals on Tuesday, helping spot aluminum in Guangdong stabilize at RMB 14,560-14,580/mt. On the other hand, plunging copper prices kept market players in aluminum market cautious. Traders were moderately interested in selling, but downstream producers resisted high prices, keeping mainstream traded prices at the lower end of the price range. Overall trading was moderate.
 

South China Aluminum: Prices Resilient, But Caution Dominates

SMM Insight 03:44:02PM Apr 23, 2013 Source:SMM

SHANGHAI, Apr. 23 (SMM) – SHFE 1306 aluminum contract was the only resilient metal among base metals on Tuesday, helping spot aluminum in Guangdong stabilize at RMB 14,560-14,580/mt. On the other hand, plunging copper prices kept market players in aluminum market cautious. Traders were moderately interested in selling, but downstream producers resisted high prices, keeping mainstream traded prices at the lower end of the price range. Overall trading was moderate.