South China Aluminum Price: Plunging A-Shares Trigger Panic Selling, Pushing Aluminum Prices Down-Shanghai Metals Market

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South China Aluminum Price: Plunging A-Shares Trigger Panic Selling, Pushing Aluminum Prices Down

Price Review & Forecast 04:03:06PM Jun 24, 2013 Source:SMM

SHANGHAI, Jun. 24 (SMM) – SHFE 1310 aluminum contract tried to consolidate support at RMB 14,300/mt during today’s morning session, helping spot aluminum prices in Guangdong hold at RMB 14,700/mt. Traders rushed to sell after China’s A-shares plunged below 2,000 points, but downstream producers stayed out of the market, forcing traders to cut offers to RMB 14,680/mt. 
 

South China Aluminum Price: Plunging A-Shares Trigger Panic Selling, Pushing Aluminum Prices Down

Price Review & Forecast 04:03:06PM Jun 24, 2013 Source:SMM

SHANGHAI, Jun. 24 (SMM) – SHFE 1310 aluminum contract tried to consolidate support at RMB 14,300/mt during today’s morning session, helping spot aluminum prices in Guangdong hold at RMB 14,700/mt. Traders rushed to sell after China’s A-shares plunged below 2,000 points, but downstream producers stayed out of the market, forcing traders to cut offers to RMB 14,680/mt.