SHANGHAI, Jun. 11 (SMM) –Spot aluminum largely traded between RMB 12,720-12,730/mt in Shanghai on Thursday, discounts of RMB 60-70/mt over SHFE 1506 aluminum contract, versus RMB 12,710-12,720/mt in Wuxi, and RMB 12,740-12,750/mt in Hangzhou. Despite rising LME aluminum, SHFE aluminum fell as shorts entered, triggering pessimism in physical market. Lower prices failed to boost buying, as buyers awaited further price decline.
East China Aluminum Prices Extend Losses, Spot Discounts Widen (Jun. 11, 2015)
Spot aluminum largely traded between RMB 12,720-12,730/mt in Shanghai on Thursday, discounts of RMB 60-70/mt over SHFE 1506 aluminum contract.
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