South China Aluminum: Cargo Holders Hold Back Goods, Pre-Holiday Restocking Limited-Shanghai Metals Market

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South China Aluminum: Cargo Holders Hold Back Goods, Pre-Holiday Restocking Limited

SMM Insight 03:16:17PM Apr 24, 2013 Source:SMM

 SHANGHAI, Apr. 24 (SMM) – SHFE 1306 aluminum contract inched down after opening higher on Wednesday, but did recover earlier losses in the afternoon due to rising copper prices. Traders in south China held to the sidelines, holding offers firm at RMB 14,590/mt. Downstream producers did not make large-scale purchases. As such, aluminum prices hit a ceiling after rising to RMB 14,600/mt. 
 

South China Aluminum: Cargo Holders Hold Back Goods, Pre-Holiday Restocking Limited

SMM Insight 03:16:17PM Apr 24, 2013 Source:SMM

 SHANGHAI, Apr. 24 (SMM) – SHFE 1306 aluminum contract inched down after opening higher on Wednesday, but did recover earlier losses in the afternoon due to rising copper prices. Traders in south China held to the sidelines, holding offers firm at RMB 14,590/mt. Downstream producers did not make large-scale purchases. As such, aluminum prices hit a ceiling after rising to RMB 14,600/mt.