East China Aluminum: Transactions Quiet with Strong Wait-and-See Sentiment

SHANGHAI, Mar. 21 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,970-16,000/mt on Wednesday, with discounts of RMB 50-80/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,060-16,090/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,990-16,000/mt. The SHFE current-month aluminum price moved narrowly between RMB 16,040-16,055/mt, with discounts remaining the unchanged from Tuesday. Traders were not willing to move goods and held prices at RMB 16,000/mt. Wait-and-see sentiment dominated markets, leaving transactions quiet. Traders eager for cash lowered prices with prices for main transactions down from Tuesday's level.