Spot Discounts in East China Aluminum Market Fail to Narrow, Despite Upcoming Delivery Date (Apr. 15, 2015)

SHANGHAI, Apr. 15 (SMM) –Spot aluminum largely traded between RMB 12,950-12,960/mt in Shanghai on Wednesday, discounts of RMB 70-80/mt over SHFE 1504 aluminum contract, versus RMB 12,940-12,960/mt in Wuxi, and RMB 13,000-13,010/mt in Hangzhou. Sellers rushed to sell out of fear that spot discounts might widen after SHFE 1505 aluminum contract shifts to the new front-month contract tomorrow. Traders entered the market as SHFE aluminum stopped falling, but downstream producers remained cautious.