East China Aluminum: Falling A-Shares Sour Sentiment, Traders Cut Offers-Shanghai Metals Market

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East China Aluminum: Falling A-Shares Sour Sentiment, Traders Cut Offers

Price Review & Forecast 01:24:41PM Jun 26, 2013 Source:SMM

SHANGHAI, Jun. 26 (SMM) – Mainstream traded prices for spot aluminum in Shanghai were RMB 14,370-14,400/mt on Wednesday, a premium of RMB 0-20/mt over SHFE 1307 aluminum contract prices. Low-iron aluminum was traded around RMB 14,540/mt. Falling A-shares caused SHFE 1310 aluminum contract to move lower after a high opening, souring sentiment in spot market. Cargo holders cut offers, but lower prices failed to stoke downstream buying interest, sending mainstream traded prices down below RMB 14,400/mt.
 

East China Aluminum: Falling A-Shares Sour Sentiment, Traders Cut Offers

Price Review & Forecast 01:24:41PM Jun 26, 2013 Source:SMM

SHANGHAI, Jun. 26 (SMM) – Mainstream traded prices for spot aluminum in Shanghai were RMB 14,370-14,400/mt on Wednesday, a premium of RMB 0-20/mt over SHFE 1307 aluminum contract prices. Low-iron aluminum was traded around RMB 14,540/mt. Falling A-shares caused SHFE 1310 aluminum contract to move lower after a high opening, souring sentiment in spot market. Cargo holders cut offers, but lower prices failed to stoke downstream buying interest, sending mainstream traded prices down below RMB 14,400/mt.