East China Aluminum: Prices Firm on Limited Supply

SHANGHAI, May 13 (SMM) – Spot aluminum was traded at RMB 14,530-14,550/mt in Shanghai on Monday, a discount of RMB 0-10/mt and premium of RMB 0-10/mt over SHFE 1305 aluminum contract. Low-iron aluminum was traded around RMB 14,680/mt. SHFE 1308 aluminum contract was resilient to declines and arrivals of spot aluminum are limited, allowing cargo holders to hike quotes to RMB 14,540/mt from RMB 14,530/mt. Downstream producers purchased to need and middlemen showed modest interest, leaving overall trading moderate.