26 AUGUST 2011Shanghai Metal Market
East China Aluminum: Spot Quotes Mix on Capital Pressure
Edited by : AL CIRCLE
1 min read
Trading prices of spot aluminum in Shanghai on August 26th were between RMB 150-170/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 17,840-17,860/mt. Trading prices of spot aluminum in Wuxi were between RMB 17,780-17,840/mt. SHFE aluminum prices climbed in the morning session, but partially erased earlier gains during spot trading hours due to profit-taking. This, however, still boosted goods holder confidence with spot quotes being lifted. While on the contrary, due to month-end capital pressure, some goods holders lowered their quotes in order to attract buyers. Market transactions were rarely seen as consumption remained weak, with spot aluminum prices struggling at RMB 18,000/mt.
Previous article
Higher aluminium prices helps boost Vimetco profits
Next articleSouth China Aluminum: Spot Prices Hit RMB 18,000, Transactions Rare
Grow with
AL Circle
