East China Aluminum: Spot Premiums Narrow as Prices Jump

SHANGHAI, Dec. 1 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 16,220-16,250/mt on Thursday, with premiums of RMB 20-50/mt over the SHFE current-month aluminum price. Traded prices of spot aluminum in Wuxi were between RMB 16,210-16,260/mt. Spot aluminum prices surged supported by higher SHFE aluminum prices. Downstream buyers remained cautious and were unwilling to purchase after the surge, limiting deals at higher prices. Goods holders gradually lowered their quotations as a result. Total transactions were limited during the day’s trading.