East China Aluminum: Trading Moderate at Lows

SHANGHAI, Apr. 10 (SMM) – Spot aluminum was traded at RMB 14,520-14,540/mt in Shanghai on Wednesday, a discount of RMB 60-80/mt over SHFE 1304 aluminum contract prices. Low-iron aluminum was traded around RMB 14,680/mt. SHFE 1306 aluminum contract edged up, but SHFE 1304 aluminum contract met resistance at RMB 14,600/mt. Spot aluminum prices climbed above RMB 14,500/mt along with SHFE aluminum. Traders were eager to sell, but downstream producers showed low acceptance toward high price, sending traded prices down slightly. Trading was moderate at below RMB 14,530/mt.