Aluminum Prices in East China Follow SHFE Aluminum Down RMB 90/mt (Jul. 30, 2014)

SHANGHAI, Jul. 30 (SMM) - Spot aluminum largely traded between RMB 13,920-13,930/mt in Shanghai and Wuxi on Wednesday, a discount of RMB 40-50/mt over SHFE 1408 aluminum contract. Mainstream traded prices were RMB 13,930-13,940/mt in Hangzhou. August aluminum on the SHFE fell below the 10-day moving average, leaving sellers in spot markets more willing to sell. No panic selloff was reported, though. Prices in Wuxi edged lower due to sluggish consumption. Overall trading in east China was thin.