East China Aluminum: Trading Picks Up on Post-Holiday Restocking-Shanghai Metals Market

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East China Aluminum: Trading Picks Up on Post-Holiday Restocking

Price Review & Forecast 01:14:33PM Jun 14, 2013 Source:SMM

SHANGHAI, Jun. 14 (SMM) – Spot aluminum was traded at RMB 14,780-14,800/mt in Shanghai on Friday, RMB 20-40/mt higher than SHFE 1306 aluminum contract prices. Low-iron aluminum was traded around RMB 14,920/mt. Downstream restocking helped aluminum prices resist declines. SHFE aluminum retreated from RMB 14,800/mt, but cargo holders still held quotes firm. Mainstream traded prices were close to RMB 14,800/mt in Shanghai, and RMB 14,800/mt in Wuxi and Hangzhou due to supply shortfall. Overall trading picked up from yesterday.
 

East China Aluminum: Trading Picks Up on Post-Holiday Restocking

Price Review & Forecast 01:14:33PM Jun 14, 2013 Source:SMM

SHANGHAI, Jun. 14 (SMM) – Spot aluminum was traded at RMB 14,780-14,800/mt in Shanghai on Friday, RMB 20-40/mt higher than SHFE 1306 aluminum contract prices. Low-iron aluminum was traded around RMB 14,920/mt. Downstream restocking helped aluminum prices resist declines. SHFE aluminum retreated from RMB 14,800/mt, but cargo holders still held quotes firm. Mainstream traded prices were close to RMB 14,800/mt in Shanghai, and RMB 14,800/mt in Wuxi and Hangzhou due to supply shortfall. Overall trading picked up from yesterday.