Home / Metal News / Tin / South China Aluminum Price: Prices Rise Further, But Trading Volumes Down
South China Aluminum Price: Prices Rise Further, But Trading Volumes Down
Jun 7,2013 16:40CST
price review forecast
Source:SMM
SHFE 1309 aluminum contract prices hovered near the daily moving average after reaching RMB 14,945/mt on Friday due to the struggle between longs and shorts.

SHANGHAI, Jun. 7 (SMM) – SHFE 1309 aluminum contract prices hovered near the daily moving average after reaching RMB 14,945/mt on Friday due to the struggle between longs and shorts. The most active SHFE aluminum contract moved within RMB 14,900-14,980/mt as investors exited the market to avoid risks ahead of three-day holiday, with trading volumes and positions down over 8,000 lots and more than 2,000 lots, respectively. Prices in south China jumped to RMB 15,360/mt in the morning due to supply shortfall, but fell back to RMB 15,330/mt in the afternoon as downstream producers began to hold to the sidelines. Overall trading was down from a day earlier as demand for restocking failed to grow significantly on the last trading day before the three-day holiday. SMM learned from traders that more aluminum ingot will arrive in south China over the holiday, which will ease tightness in the region.  

 

south China aluminum prices

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news