East China Aluminum: Buyers Replenish Ahead of Holiday, Trading at Lower Prices Improves

SHANGHAI, Mar. 30 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,970-16,000/mt on Friday, with discounts of RMB 0-40/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 15,980-16,010/mt. The SHFE current-month aluminum price still hovered around the RMB 16,000/mt mark on the last trading day ahead of the Qingming Festival holiday. In spot aluminum markets, downstream buyers purchased moderately for replenishment prior to the holiday, giving certain support to aluminum prices. Trading at lower prices improved notably. However, some sellers were still not willing to move goods with expectations on the post-holiday markets.