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

SHANGHAI, Jun. 6 (SMM) – The SHFE front-month aluminum contract edged up to hover around RMB 13,270/mt on Friday. Physical aluminum traded mostly between RMB 13,170-13,180/mt in Shanghai on Friday, a discount of RMB 100-110/mt over the SHFE 1406 aluminum contract. Mainstream traded prices were RMB 13,150-13,160/mt Wuxi and RMB 13,200-13,210/mt in Hangzhou. Cargo holders showed higher willingness to move goods after SHFE aluminum prices went up ahead of the weekend, which combined with outflows of goods from middlemen inflated market supply. Downstream producers, however, barely built stocks, and intended to push down traded prices in regions where supply was sufficient.