Spot Aluminum Price Movement in East China (2013-10-9)

Price Review & Forecast 01:22:11PM Oct 09, 2013 Source:SMM

SHANGHAI, Oct. 9 (SMM) – Cargo holders were eager to sell, but downstream producers were little interested in buying. Traders held to a wait-and-see stance in the belief that prices will fall. This caused backwardation over SHFE 1310 aluminum contract to fall to RMB 20-30/mt. Mainstream traded prices in Shanghai were RMB 14,600-14,610/mt, RMB 14,600-14,640/mt in Wuxi, and RMB 14,600-14,610/mt in Hangzhou.
 

Key Words:  Shanghai aluminum  

Spot Aluminum Price Movement in East China (2013-10-9)

Price Review & Forecast 01:22:11PM Oct 09, 2013 Source:SMM

SHANGHAI, Oct. 9 (SMM) – Cargo holders were eager to sell, but downstream producers were little interested in buying. Traders held to a wait-and-see stance in the belief that prices will fall. This caused backwardation over SHFE 1310 aluminum contract to fall to RMB 20-30/mt. Mainstream traded prices in Shanghai were RMB 14,600-14,610/mt, RMB 14,600-14,640/mt in Wuxi, and RMB 14,600-14,610/mt in Hangzhou.
 

Key Words:  Shanghai aluminum