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Spot aluminum was traded at RMB 14,450-14,470/mt in Shanghai on Wednesday, a discount of RMB 90-110/mt over SHFE 1304 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. In the afternoon, SHFE 1305 aluminum contract was stagnant. Some traders lowered offers to RMB14,440-14,450/mt, but downstream producers and middlemen showed little interest.
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