East China Aluminum: Spot Prices Down Sharply on Continuous Decline in Futures

SHANGHAI, Jun. 27 (SMM) – Traded prices of spot aluminum in Shanghai were between RMB 15,210-15,280/mt on Wednesday, and low-iron aluminum was traded between RMB 15,360-15,380/mt in Shanghai. SHFE Aluminum prices extended the declines with the SHFE current-month aluminum contract price dropping below RMB 16,200/mt, driving spot aluminum prices to slump as much as RMB 300/mt. Cargo holders were eager to sell goods but buying interest downstream remained low, leaving transactions limited at high prices.