East China Aluminum: Selling Interest in Spot Markets Improves

SHANGHAI, Dec. 19 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,950-15,980/mt on Monday, with discounts of RMB 10/mt to premiums of RMB 20/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,000-16,040/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,940-15,980/mt. The SHFE current-month aluminum price failed to surge above the RMB 16,000/mt mark, but found strong support at RMB 15,900/mt, encouraging goods holders to sell at prices close to the SHFE current-month aluminum price. However, sluggish downstream buying interest weighing on the prices, leaving transactions quiet in the market.