East China Aluminum: Spot Prices Hit A New Low for the Year

SHANGHAI, Nov. 5 (SMM) – Spot aluminum was mainly traded between RMB 15,110-15,130/mt in Shanghai on Monday, with discounts between RMB 50-80/mt. Low-iron aluminum was traded between RMB 15,170-15,190/mt. Commodity prices fell despite positive US nonfarm payrolls. The current-month contract was pressured under RMB 15,200/mt, driving spot aluminum prices down to near RMB 15,100/mt, a new low for the year. Prices for some deliverable branded goods were firm at RMB 15,130/mt, but prices for non-deliverable goods continued to drop, with some dipping to a low of RMB 15,100/mt. Downstream producers showed little buying interest at the beginning of the week, leaving trading light.