East China Aluminum: Spot Discounts Narrow, Prices Resilient

SHANGHAI, Mar. 14 (SMM) – Spot aluminum was mainly traded at RMB 14,530-14,550/mt in Shanghai on Thursday, with discounts at RMB 50-70/mt. Low-iron aluminum was traded around RMB 14,700/mt. SHFE 1306 aluminum contract prices inched down, but spot aluminum prices were resilient, with spot discounts narrowing to RMB 50/mt as delivery date of SHFE current-month aluminum contracts is approaching. Traders held offers less firm, sending the low-end price down slightly. Downstream producers and middlemen evinced little buying interest, depressing overall trading.