10 AUGUST 2011smm
South China Aluminum: Supply Scarce Due to Unwillingness to Sell
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Most active SHFE aluminum contract prices opened 3% higher on August 10th, and struggled at RMB 17,500/mt in the morning session, pushing back spot aluminum prices in south China to above RMB 18,000/mt. Mainstream trading prices were between RMB 18,150-18,190/mt. Goods holders were unwilling to sell due to limited supply, and market supplies turned scarce despite reduced downstream purchases compared with previous day. Market sentiment was active.
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