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East China Aluminum: Discount of RMB 100/Mt Reported as Downstream Producers Refuse to Buy at Highs
Apr 17,2013 15:37CST
smm insight
Source:SMM
Spot aluminum was traded at RMB 14,450-14,470/mt in Shanghai on Wednesday, a discount of RMB 90-110/mt over SHFE 1305 aluminum contract.

SHANGHAI, Apr. 17 (SMM) – Spot aluminum was traded at RMB 14,450-14,470/mt in Shanghai on Wednesday, a discount of RMB 90-110/mt over SHFE 1305 aluminum contract. Low-iron aluminum was traded around RMB 14,620/mt. SHFE 1306 aluminum contract edged down after a high opening, hurting market sentiment. Traders were eager to sell, while downstream producers were cautious about buying at highs, leaving traded prices stagnant. Only middlemen purchased modest amounts at lows.
 

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