East China Aluminum: Consumption Still Weak, Spot Discounts Remain Stable

SHANGHAI, Mar. 5 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,900-15,930mt on Monday, with discounts of RMB 90-120/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,000-16,020/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,900-15,930/mt. SHFE aluminum prices fluctuated down, with the SHFE current-month aluminum price struggling around the RMB 16,000/mt mark. Consumption in spot aluminum markets remained weak, leaving spot discounts over the SHFE current-month aluminum price stabilizing at around RMB 100/mt. Although some traders were not willing to move goods at low prices, goods supply in the market was sufficient, leaving limited transactions done.