Metals News
East China Aluminum: Buyers Purchase at Low Prices
smm insight

SHANGHAI, Jul. 12 (SMM) – Mainstream traded prices of spot aluminum in Shanghai were between RMB 15,520-15,550/mt Thursday, with spot discounts over the SHFE current-month aluminum contract price at RMB 50-80/mt, and low-iron aluminum was traded between RMB 15,600-15,620/mt in Shanghai. Declines in spot aluminum prices did not expand as the SHFE current-month aluminum contract price struggled to return to the RMB 15,600/mt line which gave certain support to spot prices. However, spot discounts remained around RMB 80/mt. Traders and downstream buyers purchased at low prices, with spot aluminum prices arresting their declines at RMB 15,520/mt. Trading sentiment remained unimproved.

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