SHANGHAI, Jul. 8 (SMM) – Mainstream traded prices for spot aluminum in Shanghai were RMB 14,340-14,350/mt on Monday, a premium of RMB 0-10/mt over SHFE 1307 aluminum contract prices. Low-iron aluminum was traded around RMB 14,500/mt. Prices for the most active SHFE aluminum contract plunged, driving spot aluminum down below RMB 14,400/mt. Traders largely held offers firm at RMB 14,350/mt, but downstream producers were cautious about buying. Trading was modest at RMB 14,340/mt.