East China Aluminum Prices Extend Losses (May 28, 2015)

SHANGHAI, May 28 (SMM) – Spot aluminum largely traded between RMB 12,920-12,930/mt in Shanghai on Thursday, discounts of RMB 140-150/mt over SHFE 1506 aluminum contract, versus RMB 12,880-12,910/mt in Wuxi, and RMB 12,960-12,980/mt in Hangzhou. Aluminum prices continued falling, leaving sellers unwilling to sell. Some traders just finished delivery under term contracts, reducing market availability. The price decline slowed near lunchtime, so some traders and processors entered the market to make small-scale purchases.