East China Aluminum: Aluminum Prices Drop Along with Plummeting Copper Prices

SHANGHAI, Apr. 18 (SMM) – Spot aluminum was traded at RMB 14,370-14,400/mt in Shanghai on Thursday, a discount of RMB 70-100/mt over SHFE 1305 aluminum contract. Low-iron aluminum was traded around RMB 14,550/mt. SHFE aluminum dropped along with tumbling copper prices. Some traders in spot market held back goods, but most remained eager to sell at discounts of RMB 100/mt. Downstream producers purchased to need, and middlemen became less interested in low-priced goods, preventing mainstream traded prices from climbing above RMB 14,400/mt.