Metals News
East China Aluminum: Spot Premiums Narrowed on Low Buying Interest
smm insight
13:44PM
Source:SMM

SHANGHAI, Dec. 6 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 16,200-16,230/mt on Tuesday, with premiums of RMB 10-40/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,280-16,300/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 16,180-16,220/mt. The SHFE current-month aluminum price slipped and was pressured at the RMB 16,200/mt mark, inducing losses in spot aluminum prices. Goods holders intended to hold at RMB 16,200/mt, but spot premiums over the SHFE current-month aluminum price narrowed to RMB 10/mt due to the depressed downstream consumption. Some traders in urgent need for cash even moved goods below RMB 16,200/mt. Overall deals were limited as a result.

East China
Aluminum prices
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