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Home / Metal News / East China Aluminum: Traders Rush to Liquidate Stocks Out of Pessimism

East China Aluminum: Traders Rush to Liquidate Stocks Out of Pessimism

iconJul 11, 2013 12:41
Source:SMM
Mainstream traded prices for spot aluminum in Shanghai were RMB 14,400-14,430/mt on Thursday, RMB 0-30/mt lower than SHFE 1307 aluminum contract prices.

SHANGHAI, Jul. 11 (SMM) – Mainstream traded prices for spot aluminum in Shanghai were RMB 14,400-14,430/mt on Thursday, RMB 0-30/mt lower than SHFE 1307 aluminum contract prices. Low-iron aluminum was traded below RMB 14,580/mt. The most active SHFE aluminum contract followed LME aluminum up, but spot aluminum rose not as sharply due to slack demand. Traders rushed to liquidate stocks, causing spot discount to expand to near RMB 30/mt. Trading was muted, and aluminum prices are facing downward pressure.  
 

Shanghai spot aluminum prices

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