East China Aluminum: Trading Subdued, Prices Down

SHANGHAI, Jul. 3 (SMM) – Mainstream traded prices for spot aluminum in Shanghai were RMB 14,440-14,460/mt on Wednesday, RMB 10-30/mt lower than SHFE 1307 aluminum contract prices. Low-iron aluminum was traded around RMB 14,600/mt. Cargo holders were eager to sell out of fear that prices may fall, but downstream producers stayed out of the market and middlemen were less interested in buying, sending the low-end traded price down to RMB 14,440/mt.