East China Aluminum: Prices Refuse to Fall

SHANGHAI, Dec. 26 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 16,000-16,040/mt on Monday, with discounts of RMB 0-30/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,060-16,080/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,980-16,020/mt. SHFE aluminum prices fluctuated narrowly with the SHFE current-month aluminum price stabilizing at RMB 16,000/mt. With the arrival of year’s end, most spot aluminum traders have already achieved sales targets for the year, so they mainly fulfilled orders from regular customers and were reluctant to cut prices for cash. Thus, prices held firmly at RMB 16,000/mt mark, leaving markets muted.