Spot Aluminum Price Movement in East China (2014-6-24)

SHANGHAI, Jun. 24 (SMM) - Spot aluminum largely traded between RMB 13,320-13,330/mt in Shanghai on Tuesday, a discount of RMB 80-90/mt over SHFE 1407 aluminum contract. Mainstream traded prices were RMB 13,320-13,340/mt in Wuxi, and RMB 13,350-13,360/mt in Hangzhou. The pullback in SHFE aluminum prices left suppliers anxious to sell and discouraged buyers from entering the market, sending prices down.