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Spot aluminum traded at RMB 15,510-15,540/mt in Shanghai, at discounts of RMB 40-70/mt over current-month SHFE aluminum prices. Low-iron aluminum sold at RMB 15,600-15,610/mt. Spot discounts expanded to RMB 70/mt as the weak performance of SHFE aluminum added to bearishness downstream and consequently even less buying. Traders in Hangzhou lowered their quotations to as low as RMB 15,500/mt, which only saw a few deals from middlemen, however. Spot aluminum prices dropped to RMB 15,510/mt in the afternoon as SHFE aluminum prices dropped sharply early in the trading session. Deals were hardly concluded as sellers and buyers spit over a proper price.
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