Home / Metal News / South China Aluminum Price: Prices Down on Bearish Sentiment

South China Aluminum Price: Prices Down on Bearish Sentiment

iconJun 13, 2013 15:46
Source:SMM
SHFE 1309 aluminum contract opened 1.7% lower on Thursday, undermining market sentiment.

SHANGHAI, Jun. 13 (SMM) – SHFE 1309 aluminum contract opened 1.7% lower on Thursday, undermining market sentiment. Aluminum inventories in Guangdong were slightly over 100,000 mt during the three-day holiday, but downstream producers stayed out of the market following the holiday out of growing pessimism. Most traders were anxious to sell considering that more goods will arrive, pulling prices down to RMB 15,200/mt. Prices in the region fell more sharply than those in east China, but were still RMB 400/mt higher than in east China. This enticed arbitrage between these two regions. Overall trading was modest.
 

south China aluminum prices

For queries, please contact Michael Jiang at michaeljiang@smm.cn

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

Related news

SMM Events & Webinars

All