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Spot Aluminum Price Movement in East China (2013-10-24)
Oct 24, 2013 14:44Source:SMM
SHFE 1311 aluminum contract drifted higher to RMB 14,485/mt after a low opening on Thursday, boosted by upbeat HSBC’s flash China manufacturing PMI for October.
SHANGHAI, Oct. 24 (SMM) – SHFE 1311 aluminum contract drifted higher to RMB 14,485/mt after a low opening on Thursday, boosted by upbeat HSBC’s flash China manufacturing PMI for October. Spot aluminum prices in Shanghai slid to RMB 14,470-14,490/mt as arrivals grew slightly, a discount of RMB 0-20/mt over SHFE current-month aluminum contract. Prices were RMB 14,470-14,480/mt in Wuxi and Hangzhou. Demand from downstream producers picked up a little, while traders contributed most to today’s transactions.
Shanghai aluminum
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