East China Aluminum: Remarkable Contrast between Sellers and Buyers before Delivery Date

SHANGHAI, Dec. 14 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 16,030-16,060/mt on Tuesday, with premiums of RMB 0-20/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,080-16,120/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 16,020-16,060/mt. SHFE aluminum prices kept falling, with the SHFE current-month aluminum price dropped to nearly RMB 16,000/mt. Being only 2 days away from delivery date, cargo holders were more willing to sell goods at prices with premiums over the SHFE current-month aluminum price. However, downstream consumption was sluggish due to financial pressure and scarce orders, dragging down aluminum prices. Deals were rarely made with remarkable contrast between sells and buyers.