Spot Aluminum Price Movement in East China (2014-6-3)

SHANGHAI, Jun. 3 (SMM) – Spot aluminum traded mostly between RMB 13,310-13,320/mt in Shanghai on Tuesday, a discount of RMB 50-60/mt over the SHFE 1406 aluminum contract. Mainstream traded prices were RMB 13,300-13,310/mt Wuxi and RMB 13,350-13,360/mt in Hangzhou. Cargo holders held prices firm with low intention of raising cash, but downstream producers built stocks in light volumes on uncertainties over aluminum price movements. Market participants largely stayed on the sidelines on Tuesday, causing thin transactions.