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East China Aluminum: Prices Fail to Rise, Spot Discounts Expand
Jul 19,2012 13:40CST
smm insight
Source:SMM
Mainstream traded prices of spot aluminum in Shanghai were between RMB 15,530-15,560/mt Thursday.

SHANGHAI, Jul. 19 (SMM) – Mainstream traded prices of spot aluminum in Shanghai were between RMB 15,530-15,560/mt Thursday, 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 15,610-15,620/mt in Shanghai. SHFE aluminum fell after opening higher, paring up momentum for spot aluminum prices. The SHFE current-month aluminum contract price kept hovering around RMB 15,600/mt. Cargo holders moved goods actively but traders and downstream buyers were uninterested in purchasing, causing spot discounts to expand to RMB 70/mt. Spot aluminum market in Hangzhou remained weak, with traded prices at RMB 15,520/mt. Trading was still soft.

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