Aluminum Prices in East China Fall on Slack Demand (Jan. 20, 2015)

SHANGHAI, Jan. 20 (SMM) – Spot aluminum largely traded between RMB 12,740-12,750/mt in Shanghai and Wuxi on Tuesday, discounts of RMB 20-40/mt over SHFE 1502 aluminum contract, versus RMB 12,760-12,770/mt in Hangzhou. The inflow of aluminum ingot from SHFE warehouses added to oversupply pressures. Traders stayed out of the market, waiting for SHFE aluminum to fall further. Downstream demand remained slack. This forced suppliers to lower offers.