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

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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  

Price

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#1 Refined Cu
May.24
47010.0
210.0
(0.45%)
Aluminum Ingot
May.24
14230.0
70.0
(0.49%)
#1 Lead
May.24
16300.0
100.0
(0.62%)
0# Zinc
May.24
20600.0
-160.0
(-0.77%)
#1 Tin Ingot
May.24
143500.0
-500.0
(-0.35%)

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