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Aluminum-SHMET Spot Market Briefing20130716

Date 7/16/2013 2:54:11 PM Source: SHMET
Jul.16,2013(SHMET)--

The quotations for Shanghai spot aluminum (domestic) are between 14270-14330 rmbs/ton, with a reduction of 60 rmbs/ton. The contango are in the range of 75-15 rmbs/ton. Wuxi gave out a price of 14300 rmbs/ton. Affected by the U.S. dollar strength and China economic growth slowed, London aluminum fluctuated and closed lower of the previous night. Besides, Some analysts said that China economic growth would fall to 6% in the 3/4 years ahead, moreover it would not be a short period for the sluggish. SHFE aluminum fluctuated in low boundary. Due to the low aluminum price, the whole market sentiment were weak. Most quotations for aluminum ingot are around 14420 rmbs/ton. Although a slight increase in inquiry, users still wanted to purchase in a lower bits. The orders from downstream manufactuer just meet their demand.

Edited by SHMET