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East China Aluminum: Spot Discounts Expand on Bearish Mood
Jul 18,2012 13:58CST
smm insight
Source:SMM
Mainstream traded prices of spot aluminum in Shanghai were between RMB 15,510-15,540/mt Wednesday.

SHANGHAI, Jul. 18 (SMM) – Mainstream traded prices of spot aluminum in Shanghai were between RMB 15,510-15,540/mt Wednesday, with spot discounts over the SHFE current-month aluminum contract price remaining at RMB 40-70/mt, and low-iron aluminum was traded between RMB 15,600-15,610/mt in Shanghai. SHFE aluminum prices opened lower and moved down, adding to bearish mood in spot aluminum market. Downstream buyers rarely made inquiries, driving spot discounts to expand to RMB 70/mt. Some goods holders in Hangzhou eager to sell goods lowered prices to RMB 15,500/mt. Only a few middlemen bought goods at low prices, and trading remained weak.

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