09 AUGUST 2011smm
South China Aluminum: Spot Prices Gain with Climbing Futures Prices
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SHFE aluminum prices gapped lower and fell to a stop in a short period on August 9th, but reversed the falling trend in the afternoon with all aluminum contract prices rising. As a result, selling interest at higher prices turned strong among goods holders in south China, with mainstream trading prices of RMB 17,740-17,760/mt which gained higher premiums over spot aluminum prices in Shanghai. After aluminum prices stopped falling and rebounded, downstream buyers purchased actively, and market sentiment turned active.
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