East China Aluminum: Prices Resilient on Stable Demand-Shanghai Metals Market

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East China Aluminum: Prices Resilient on Stable Demand

Price Review & Forecast 01:10:18PM Jun 24, 2013 Source:SMM

SHANGHAI, Jun. 24 (SMM) – Mainstream traded prices for spot aluminum in Shanghai were RMB 14,410-14,430/mt on Monday, a discount of RMB 10-30/mt over SHFE 1307 aluminum contract prices. Low-iron aluminum was traded around RMB 14,570/mt. SHFE 1310 aluminum contract held stable, boosting market confidence. Cargo holders remained eager to sell against tightening liquidity, and downstream producers and middlemen stepped up purchases before liquidity tightens further, helping mainstream traded prices hold stable at RMB 14,420/mt. Overall trading was modest. 
 

East China Aluminum: Prices Resilient on Stable Demand

Price Review & Forecast 01:10:18PM Jun 24, 2013 Source:SMM

SHANGHAI, Jun. 24 (SMM) – Mainstream traded prices for spot aluminum in Shanghai were RMB 14,410-14,430/mt on Monday, a discount of RMB 10-30/mt over SHFE 1307 aluminum contract prices. Low-iron aluminum was traded around RMB 14,570/mt. SHFE 1310 aluminum contract held stable, boosting market confidence. Cargo holders remained eager to sell against tightening liquidity, and downstream producers and middlemen stepped up purchases before liquidity tightens further, helping mainstream traded prices hold stable at RMB 14,420/mt. Overall trading was modest.