Shanghai Metal Market
SMM Daily Review - 2011/9/7 Aluminum Market
Edited by : AL CIRCLE
1 min read
Trading prices of spot aluminum in Shanghai were between RMB 17,750-17,780/mt on September 7th, with premiums of positive RMB 20-50/mt over SHFE current-month aluminum prices. Following a slight rebound in SHFE aluminum prices, spot premiums narrowed to less than RMB 50/mt. Though buying interest was moderate in the market, general market sentiment improved with stabilizing prices. This also boosted goods holder confidence to hold their quotes firm in the future. Mainstream spot quotes rose to RMB 17,760-17,800/mt in the afternoon with continuously rising futures prices. However, as middlemen and downstream buyers were cautious after spot price climbed, no market transaction was seen in the afternoon.
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