East China Aluminum: Transactions Quiet with Prices in Stalemate

SHANGHAI, Mar. 19 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,960-15,990/mt on Monday, with discounts of RMB 40-70/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,050-16,080/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,960-15,990/mt. The SHFE current-month aluminum price fell, depressing market sentiment. Downstream buyers still purchased on an as-needed basis with bearish outlook, while cargo holders held prices firmly at RMB 15,960/mt, leading spot discounts over the SHFE current-month aluminum price to narrow. With sufficient supply and limited demand, buyers and sellers were in a stalemate with regard to prices, leaving transactions quiet.