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East China Aluminum: Traders Rush to Sell as Liquidity Crunch Bits in, Pulling Prices Down
Jul 24,2013 13:31CST
price review forecast
Source:SMM
Mainstream traded prices for spot aluminum in Shanghai were RMB 14,360-14,370/mt on Wednesday, RMB 10-20/mt lower than SHFE 1308 aluminum contract prices.

SHANGHAI, Jul. 24 (SMM) – Mainstream traded prices for spot aluminum in Shanghai were RMB 14,360-14,370/mt on Wednesday, RMB 10-20/mt lower than SHFE 1308 aluminum contract prices. Low-iron aluminum was traded around RMB 14,530/mt. Flash China’s July manufacturing PMI continued to fall, sending SHFE aluminum down. Cargo holders rushed to sell as the end-of-month liquidity crunch bit in, but downstream producers and middlemen stayed out of the market, pulling spot aluminum prices down to RMB 14,360/mt. Prices in Hangzhou also slid below RMB 14,400/mt. 

 

Shanghai spot aluminum prices

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