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East China Aluminum: Unwillingness to Sell Strong Among Bullish Goods Holders
Edited by : AL CIRCLE
1 min read
Traded prices of spot aluminum in Shanghai on July 19 were RMB 17,750-17,780/mt, with premiums of positive RMB 60-80/mt over SHFE current-month aluminum contract prices. Low-iron aluminum was traded between RMB 17,780-17,820/mt. Traded spot aluminum prices in Wuxi were between RMB 17,750-17,780/mt. As SHFE aluminum prices kept rising, spot aluminum holders were increasingly bullish toward aluminum prices. Unwillingness to sell was also strong among goods holders due to low inventories. However, purchases were falling as spot aluminum prices rose. As a result, market transactions were quite limited.
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