East China Aluminum: Spot Quotations Low on Sluggish Demand

SHANGHAI, Aug. 10 (SMM) – Spot aluminum was mainly traded at RMB 15,430-15,450/mt in Shanghai on August 10, with discounts at RMB 30-50/mt and low-iron aluminum traded at near RMB 15,510/mt. SHFE aluminum prices dropped, dampening confidence in spot aluminum markets. Cargo holders were eager to move goods, but downstream buying interest was low before the weekend. Some traders lowered quotations due to a small amount of low-priced imported aluminum at RMB 15,400/mt. Traded prices in Wuxi and Hangzhou fell to RMB 15,420/mt. Overall trading was light.