Spot Aluminum Price Movement in East China (2014-6-4)

SHANGHAI, Jun. 4 (SMM) – Physical aluminum traded mostly between RMB 13,200-13,210/mt in Shanghai on Wednesday, a discount of RMB 70-80/mt over the SHFE 1406 aluminum contract. Mainstream traded prices were RMB 13,190-13,200/mt Wuxi and RMB 13,240-13,250/mt in Hangzhou. After SHFE aluminum prices fell sharply, cargo holders continued to hold prices firm, while downstream producers intended to purchase goods at low prices, leaving little profit for middlemen. Cargo holders turned disinclined to trade after SHFE aluminum prices fell further by the afternoon trading hours, with light traded volumes on Wednesday.