South China Aluminum Price: Bullishness Dominates, Prices Surge Above RMB 15,000/Mt-Shanghai Metals Market

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South China Aluminum Price: Bullishness Dominates, Prices Surge Above RMB 15,000/Mt

SMM Insight 04:36:25PM Jun 03, 2013 Source:SMM

SHANGHAI, Jun. 3 (SMM) – Continuously rising SHFE 1308 aluminum contract prices buoyed market sentiment on Monday. Tight spot aluminum supply in south China against stable demand downstream pushed spot aluminum prices there above RMB 15,000/mt, the highest level since January 28. Traders are bullish over aluminum prices as limited arrivals against stock replenishment ahead of the upcoming Chinese Dragon Boat Festival will likely cause inventories in south China to fall below 100,000 mt. 
 

South China Aluminum Price: Bullishness Dominates, Prices Surge Above RMB 15,000/Mt

SMM Insight 04:36:25PM Jun 03, 2013 Source:SMM

SHANGHAI, Jun. 3 (SMM) – Continuously rising SHFE 1308 aluminum contract prices buoyed market sentiment on Monday. Tight spot aluminum supply in south China against stable demand downstream pushed spot aluminum prices there above RMB 15,000/mt, the highest level since January 28. Traders are bullish over aluminum prices as limited arrivals against stock replenishment ahead of the upcoming Chinese Dragon Boat Festival will likely cause inventories in south China to fall below 100,000 mt.