East China Aluminum: Traders Unwilling to Cut Prices, Discounts Narrow

SHANGHAI, Jan. 10 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,970-16,000/mt on Tuesday, with discounts of RMB 20-50/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,040-16,060/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,920-15,960/mt. SHFE aluminum prices rebounded and moved above RMB 16,000/mt, easing the bearish sentiment in spot aluminum market. Downstream buying interest was still low, but cargo holders were less willing to move goods at lower prices, narrowing discounts over the SHFE current-month aluminum price. Limited deals were done in the market.