East China Aluminum: Prices Tumbled, Liquidity Tightened

SHANGHAI, Mar. 29 (SMM) – Spot aluminum was mainly traded at RMB 14,440-14,480/mt in Shanghai on Friday, a discount of RMB 40-80/mt over SHFE 1304 aluminum contract prices. Low-iron aluminum was traded around RMB 14,640/mt. SHFE 1306 aluminum contract prices rose after a low opening, but spot aluminum in east China fell below RMB 14,500/mt. A small number of traders in Shanghai lowered offers to RMB 14,440/mt in order to generate cash, widening price spread between goods of different brands. Downstream producers and middlemen evinced little buying interest against tight cash flows on the last trading day of the quarter, leaving overall trading light.