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Home / Metal News / Demand in East China Aluminum Market Picks Up (Oct. 24, 2014)

Demand in East China Aluminum Market Picks Up (Oct. 24, 2014)

Oct 24, 2014 13:27

Source:SMM

Spot aluminum largely traded at RMB 13,580-13,600/mt in Shanghai on Friday, discounts of RMB 110-120/mt over SHFE 1411 aluminum contract.

SHANGHAI, Oct. 24 (SMM) – Spot aluminum largely traded at RMB 13,580-13,600/mt in Shanghai on Friday, discounts of RMB 110-120/mt over SHFE 1411 aluminum contract, versus RMB 13,570-13,580/mt in Wuxi and RMB 13,590-13,600/mt in Hangzhou. Downstream producers entered the market after watching from the sidelines for a week as SHFE aluminum showed signs of rebounding. Traders also showed high buying interest for arbitrage on the SHFE. This allowed sellers to demand higher prices.

Shanghai aluminum prices

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