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East China Aluminum: Falling SHFE Aluminum Sent Spot Aluminum to New Low for the Year
Jul 16,2013 13:48CST
price review forecast
Source:SMM
Mainstream traded prices for spot aluminum in Shanghai were RMB 14,290-14,310/mt on Tuesday, RMB 20-30/mt lower than SHFE 1308 aluminum contract prices.

SHANGHAI, Jul. 16 (SMM) – Mainstream traded prices for spot aluminum in Shanghai were RMB 14,290-14,310/mt on Tuesday, RMB 20-30/mt lower than SHFE 1308 aluminum contract prices. Low-iron aluminum was traded around RMB 14,450/mt. SHFE 1308 aluminum contract, the new current-month contract, drifted lower after a low opening, dragging spot aluminum below RMB 14,290/mt, a new low for the year. Later, SHFE 1310 aluminum contract rebounded, stoking buying interest among downstream producers and middlemen. This allowed traders to hold prices firm at RMB 14,300/mt or above. 
 

Shanghai spot aluminum prices

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