South China Aluminum Price: Ample Supply Keeps Prices in Check

SHANGHAI, Jun. 17 (SMM) – SHFE 1309 aluminum contract failed to break through RMB 14,700/mt on Monday due to tepid trading activity. More aluminum ingot was shipped to south China than to east China as prices in south China were RMB 350/mt higher than in east China. This kept supply in south China plentiful, narrowing the price gap between both regions. Meanwhile, SHFE aluminum was weak today, stimulating traders to sell for cash. Downstream demand was limited, keeping mainstream traded prices in check within RMB 15,140-15,160/mt, with the low-end price up slightly from last Friday.