East China Aluminum: Spot Prices below RMB 15,300/Mt Again on Sluggish Consumption

SHANGHAI, Oct. 22 (SMM) – Spot aluminum was mainly traded between RMB 15,280-15,310/mt in Shanghai on Monday, with discounts between RMB 60-90/mt. Low-iron aluminum was traded between RMB 15,350-15,370/mt. The most active SHFE aluminum contract proved resilient to declines compared with other base metals, but sluggish consumption in spot market dragged spot aluminum prices below RMB 15,300/mt again. Cargo holders were eager to move goods at lower prices at the month’s end, while downstream processors purchased as needed, leaving trading stable.