Aluminum Prices in East China Slide, Dip-Buying Reported (Aug. 14, 2014)-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • Zinc
  • Futures movement
  • MMi Iron Ore Port Index
  • Nickel
  • Copper scrap
  • Copper
  • Aluminium
  • Stainless steel
  • Macroeconomics
  • Evening comments
  • Market commentary
  • Tin
  • Production data
  • inventory

Aluminum Prices in East China Slide, Dip-Buying Reported (Aug. 14, 2014)

Price Review & Forecast 01:22:37PM Aug 14, 2014 Source:SMM
SHANGHAI, Aug. 14 (SMM) – Spot aluminum largely traded at RMB 13,980-14,000/mt in Shanghai on Thursday, a discount of RMB 30-50/mt over SHFE 1408 aluminum contract, versus RMB 13,990-14,000/mt in Wuxi and RMB 14,000-14,010/mt in Hangzhou. Some sellers demanded higher offers out of expectations that demand will pick up tomorrow and since delivery date of SHFE 1408 aluminum contract is approaching. Most, however, cut offers due to anemic demand. Trading was active at below RMB 14,000/mt. 
 
 
 
 
 
 
   
 

Aluminum Prices in East China Slide, Dip-Buying Reported (Aug. 14, 2014)

Price Review & Forecast 01:22:37PM Aug 14, 2014 Source:SMM
SHANGHAI, Aug. 14 (SMM) – Spot aluminum largely traded at RMB 13,980-14,000/mt in Shanghai on Thursday, a discount of RMB 30-50/mt over SHFE 1408 aluminum contract, versus RMB 13,990-14,000/mt in Wuxi and RMB 14,000-14,010/mt in Hangzhou. Some sellers demanded higher offers out of expectations that demand will pick up tomorrow and since delivery date of SHFE 1408 aluminum contract is approaching. Most, however, cut offers due to anemic demand. Trading was active at below RMB 14,000/mt.