Spot Aluminum Price Movement in East ChinaAuthor:Site Source:Original Site Click to rate:1246 Post time:2014-01-13
SHANGHAI, Jan. 13 (SMM) – SHFE 1401 aluminum contract prices slipped to RMB 13,800/mt near lunchtime after opening at RMB 13,850/mt on Monday. Spot aluminum largely traded at RMB 13,730-13,740/mt in Shanghai, RMB 13,730-13,750/mt in Wuxi, and RMB 13,750-13,770/mt in Hangzhou. Sellers were aggressively selling to fulfill annual sales target, adding to oversupply pressure and weighing prices down. Downstream producers continued to buy as needed.
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from metal.com