Trading in East China Aluminum Market Muted as Pessimism Spreads (Oct. 22, 2014)

SHANGHAI, Oct. 22 (SMM) – Spot aluminum largely traded at RMB 13,610-13,620/mt in Shanghai on Wednesday, discounts of RMB 60-100/mt over SHFE 1411 aluminum contract, versus RMB 13,610-13,630/mt in Wuxi and RMB 13,630-13,640/mt in Hangzhou. Sellers rushed to sell out of growing pessimism after SHFE aluminum moved lower, but buyers generally stayed out of the market.