|Jun 04 2010|
|Copper||52400-52800||+800||c 100/b 50|
|Aluminum||14380-14420||+100||b 50/b 90|
|1#Zinc||14200-14300||+150||c 95/b 5|
|0#Zinc||14250-14350||+150||c 45/b 55|
China’s spot Aluminum is quoted from RMB 14380 and 14420 per tonne, increasing RMB 100 per tonne, with trading from RMB 50 to 90 backwardation. During the Dragon Boat Festival, the national State Development Planning Commission said that they were reseraching the adjustment of electricity now. Although they didn’t announce when to publish the policy, the measure is really the first time, what will support aluminum price to a certain extent. Bewteen the oversupplied production capacity and the support of cost, it is likely that aluminum price will consolidate within the cost zone for a long time.
“ SHFE Aluminum opened higher and went lower today. There are both bad and goods news on the market now. We were worried about aluminum price before, but the trend during the Dragon Boat Festival was very nice, so we have confidence to the near-future market.” An Aluminum trader said to SHMET.
“ We have sold more than 600 tonnes of goods at RMB 14400 per tonne. The sales is nice. Aluminum price was continued to go higher and our trading volume was on the uptrend, too. But it is expected that aluminum price will consolidate on the bottom in the short term. The market is adopting a look-on attitude.” Another spot trader said to SHMET.
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