Spot Aluminum Price Movement in East China (2013-10-24)

Price Review & Forecast 02:44:55PM Oct 24, 2013 Source:SMM

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. 
 
 

Key Words:  Shanghai aluminum  

Spot Aluminum Price Movement in East China (2013-10-24)

Price Review & Forecast 02:44:55PM Oct 24, 2013 Source:SMM

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. 
 
 

Key Words:  Shanghai aluminum