East China Aluminum: Consumption Remains Weak with Prices under Pressure

SHANGHAI, Dec. 22 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,970-16,000/mt on Thursday, with discounts of RMB 0-30/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,020-16,040/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,950-15,980/mt. The SHFE current-month aluminum price tested at the RMB 16,000/mt mark. As aluminum prices resisted increases, goods holders were actively moving goods, but downstream consumption did not improve. As a result, spot aluminum prices fell below RMB 16,000/mt. Despite narrowing spot discounts due to lower selling interest after the decline, transactions remained quiet.