East China Aluminum: Prices Inch Down, Trading Lackluster

SHANGHAI, Jul. 4 (SMM) – Mainstream traded prices for spot aluminum in Shanghai were RMB 14,410-14,420/mt on Thursday, a discount of RMB 0-10/mt and premium of RMB 0-10/mt over SHFE 1307 aluminum contract prices. Low-iron aluminum was traded around RMB 14,570/mt. SHFE aluminum fell, sending spot aluminum down as well. Traders were eager to sell, but consumption was sluggish, keeping mainstream traded prices stagnant at RMB 14,410/mt. Some cut offers further to RMB 14,400/mt. Prices in Hangzhou were higher at RMB 14,450/mt due to supply shortfall.