East China Aluminum: Market Transactions Sluggish as Most Buyers Stay Away

SHANGHAI, Sept. 6 (SMM) – Trading prices of spot aluminum in Shanghai were between RMB 17,700-17,740/mt on September 6th, with premiums of positive RMB 50-80/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 17,780-17,820/mt. Trading prices of spot aluminum in Wuxi were between RMB 17,720-17,780/mt. With a five-day loss in SHFE aluminum prices, most spot aluminum buyers chose to exit the market while most goods holders were actively touting their goods. Though spot quotes fell to lowest RMB 17,700/mt during the day, purchases in the market remained few, thereby leading to sluggish transactions during the day.