East China Aluminum: Upside Room Limited due to Anemic Demand
SHANGHAI, Mar. 13 (SMM) – Spot aluminum was mainly traded at RMB 14,540-14,550/mt in Shanghai on Wednesday, with discounts at RMB 70-90/mt. Low-iron aluminum was traded around RMB 14,700/mt. SHFE 1306 aluminum contract prices shot up, but spot aluminum prices rose only slightly, with strong resistance felt at RMB 14,550/mt due to sluggish consumption. Only middlemen were modestly interested in bargain-hunting amid high discounts, leaving overall trading moderate.
Shanghai spot aluminum prices
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