29 AUGUST 2011Shanghai Metal Market
East China Aluminum: More Selling at Month’s End, Price Drop Evident in Wuxi
Edited by : AL CIRCLE
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Trading prices of spot aluminium in Shanghai were between RMB 17,760-17,790/mt, with premiums of positive RMB 140-170/mt over SHFE current-month aluminium prices. Low-iron aluminium was traded between RMB 17,800-17,840/mt. Trading prices of spot aluminium in Wuxi were between RMB 17,720-17,760/mt. Spot aluminium prices fell as a result of drastic fluctuation in SHFE aluminium prices. Goods holders also actively lowered their quotes given weak consumption at the month’s end, with spot quotes in Wuxi falling the most to near RMB 17,700/mt. Market transactions were sparse.
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