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Spot aluminum largely traded at RMB 12,810-12,830/mt in Shanghai on Tuesday, RMB 12,790-12,810/mt in Wuxi, and RMB 12,840-12,850/mt in Hangzhou. Some buyers went bargain hunting after SHFE 1403 aluminum contract prices rebounded, but most were cautious out of bearishness. In the afternoon, SHFE current-month aluminum contract rose further, but cargo holders still kept offers unchanged at RMB 12,810-12,820/mt due to a lack of confidence over future prices. A few traders stepped up purchases in the belief that prices will rise.
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