East China Aluminum: Prices Hit New Low for the Year

SHANGHAI, Jul. 30 (SMM) – Mainstream traded prices for spot aluminum in Shanghai were RMB 14,240-14,260/mt on Tuesday, RMB 0-20/mt lower than SHFE 1308 aluminum contract prices. Low-iron aluminum was traded around RMB 14,410/mt. SHFE 1310 aluminum contract prices fell, dampening market sentiment. Traders were in a hurry to sell against tight liquidity at the month’s end, sending prices to a new low for the year. Downstream producers and middlemen became more willing to buy once prices fell to RMB 14,240/mt.