Spot Aluminum Price Movement in East China (2014-6-16)

SHANGHAI, Jun. 16 (SMM) - Spot aluminum largely traded between RMB 13,240-13,260/mt in Shanghai on Monday, a discount of RMB 50-70/mt over SHFE 1406 aluminum contract. Mainstream traded prices were RMB 13,230-13,250/mt Wuxi and RMB 13,260-13,270/mt in Hangzhou. Sellers demanded higher offers since SHFE 1407 aluminum contract, whose prices are higher than SHFE 1406 contract, will become the new front-month contract tomorrow. Buyers in general watched from the sidelines at the beginning of the week.