East China Aluminum: Prices Keep Falling with Lower Selling Interest

SHANGHAI, May 9 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 16,070-16,100/mt on Wednesday, with discount of RMB 20/mt to premiums of RMB 10/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,180-16,210/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 16,090-16,110/mt and traded prices in Hangzhou were between RMB 16,070-16,100/mt. SHFE current-month aluminum price continued to fall with pressures at the RMB 16,100/mt level, and spot prices in East China dropped accordingly. Cargo holders were reluctant to move goods at low prices and with quotation mainly at RMB 16,100/mt, but buying interest was low at the price level, leaving transactions modest.