East China Aluminum: Spot Prices Hit Near Lowest for the Year

SHANGHAI, Oct. 15 (SMM) – Spot aluminum was mainly traded between RMB 15280-15300/mt in Shanghai on Monday, with premiums between RMB 0-20/mt. Low-iron aluminum was traded between RMB 15350-15360/mt. The SHFE aluminum contract extended losses, dragging spot aluminum prices in east China down below RMB 15,300/mt, near the lowest for the year. Most downstream buyers stood on the sidelines at the beginning of the week, while cargo holders were unwilling to move goods at discounts even on the last trading day of the 1210 contract, leaving trading quiet.