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East China Aluminum: Trading Picks Up as Middlemen Go Bargain Hunting
Jul 9,2013 15:38CST
price review forecast
Source:SMM
Mainstream traded prices for spot aluminum in Shanghai were RMB 14,350-14,370/mt on Tuesday, a discount of RMB 0-10/mt and premium of RMB 0-10/mt over SHFE 1307 aluminum contract prices.

SHANGHAI, Jul. 9 (SMM) – Mainstream traded prices for spot aluminum in Shanghai were RMB 14,350-14,370/mt on Tuesday, a discount of RMB 0-10/mt and premium of RMB 0-10/mt over SHFE 1307 aluminum contract prices. Low-iron aluminum was traded around RMB 14,520/mt. The most active SHFE aluminum contract lacked upward momentum due to China’s growing CPI in June. Gains of spot aluminum prices were curbed by soft downstream demand. Traders were eager to sell at pries level with SHFE current-month aluminum contract, and middlemen went bargain hunting, leaving prices stagnant at RMB 14,360/mt. Prices in Hangzhou, however, were higher at RMB 14,400/mt due to tight supply. Overall trading picked up from yesterday.  
 

Shanghai spot aluminum prices

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