SHANGHAI, Jun. 12 (SMM) –Spot aluminum largely traded between RMB 12,550-12,560/mt in Shanghai on Friday, discounts of RMB 50-60/mt over SHFE 1506 aluminum contract, versus RMB 12,530-13,550/mt in Wuxi, and RMB 12,570-12,580/mt in Hangzhou. Spot prices followed SHFE aluminum down to this year’s low. This left suppliers unwilling to sell, so market availability fell significantly near lunchtime. Downstream demand picked up ahead of the weekend, and traders showed strong buying interest. So, spot prices rebounded somewhat later in the day.
East China Aluminum Prices Fall Deeply (Jun. 12, 2015)
Spot aluminum largely traded between RMB 12,550-12,560/mt in Shanghai on Friday, discounts of RMB 50-60/mt over SHFE 1506 aluminum contract.
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