Metals News
East China Aluminum: Spot Fails to Rally Due to Soft Consumption
smm insight

SHANGHAI, Jul. 10 (SMM) – Traded prices of spot aluminum in Shanghai were mainly between RMB 15,600-15,630/mt Tuesday, with spot discounts over the SHFE aluminum prices at RMB 50-80/mt, and low-iron aluminum was traded between RMB 15,690-15,710/mt in Shanghai. Although the SHFE current-month aluminum contract price rebounded slightly to test RMB 15,700/mt line, spot aluminum prices did not rise accordingly due to the sluggish consumption. Goods holders lowered prices for sales with some even quoting at RMB 15,590/mt, leaving spot discounts expanding to nearly RMB 100/mt. However, downstream purchases were rare.

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