Aluminum Prices in East China Extend Losses (Oct. 17, 2014)

SHANGHAI, Oct. 17 (SMM) – Spot aluminum largely traded at RMB 13,470-13,490/mt in Shanghai and Wuxi on Friday, discounts of RMB 60-70/mt over SHFE 1411 aluminum contract, versus RMB 13,490-13,520/mt in Hangzhou. SHFE front-month contract fell to near 13,500/mt, leaving pessimism running rampant in physical market and sending spot aluminum prices down. But sentiment in spot market improved after SHFE aluminum rallied near lunchtime, allowing sellers to raise offers slightly.