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Home / Metal News / East China Aluminum: Restocking Limited on Strong Bearishness

East China Aluminum: Restocking Limited on Strong Bearishness

iconJul 26, 2013 17:12
Mainstream traded prices for spot aluminum in Shanghai were RMB 14,340-14,350/mt on Friday, RMB 10-30/mt lower than SHFE 1308 aluminum contract prices.

SHANGHAI, Jul. 26 (SMM) – Mainstream traded prices for spot aluminum in Shanghai were RMB 14,340-14,350/mt on Friday, RMB 10-30/mt lower than SHFE 1308 aluminum contract prices. Low-iron aluminum was traded around RMB 14,510/mt. Falling SHFE aluminum prices turned market players in spot market bearish. Cargo holders were anxious to sell as the end-of-month liquidity crunch bit in, but downstream producers showed little interest, sending the high-end traded price down to RMB 14,350/mt.

Shanghai spot aluminum prices
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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