East China Aluminum: Replenishment Improves Ahead of Weekend

SHANGHAI, Jun. 1 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,930-15,960/mt on Friday. Low-iron aluminum was traded between RMB 16,010-16,040/mt in Shanghai. SHFE aluminum prices were resistant to decline but failed to rally. With financial pressures eased in early month, cargo holders were not willing to move goods, while enterprises downstream replenished stocks moderately ahead of weekend. Consumption in Shanghai remained soft, but trading in Wuxi and Hangzhou improved remarkably with traded prices edging up slightly.