en.smm.cn
East China Aluminum: Downstream Purchase Confidence Deteriorates With Surging Prices
Edited by : AL CIRCLE
1 min read
Traded prices of spot aluminum in Shanghai on July 27th were between RMB 18,190-18,210/mt, with premiums of positive RMB 60-90/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 18,290-18,310/mt. Traded prices of spot aluminum in Wuxi were between RMB 18,180-18,200/mt. As SHFE aluminum prices surged by a huge 2%, spot aluminum prices gained by RMB 210/mt, which led to deterioration of purchase confidence among downstream buyers. Supplies were scarce among cargo-holders as they were building up inventories. Middlemen were cautious towards entering the market. As a result, the active market sentiment cooled down.
Previous article
Hydro sells stake in Norwegian power producer
Next articleSouth China Aluminum: Spot Price Accelerates Rising with Premiums Reaching RMB 355/mt
Grow with
AL Circle
