East China Aluminum Sales Remain Tepid (Jun. 17, 2015)

SHANGHAI, Jun. 17 (SMM) – Spot aluminum mainly quoted at RMB 12,580-12,590/mt, a RMB 80-90/mt discount against SHFE 1507 aluminum contract price. Mainstream prices were RMB 12,570-12,590/mt in Wuxi and RMB 12,600-12,620/mt in Hangzhou.

Cargo holders rushed to sell whereas downstream buyers showed little buying interest, leaving trades soft. Traders reported currently that end-user consumption was weaker compared with the same period last year. Shipments from aluminum ingot inventories also declined year-on-year. Both factors mirrored no recovery in spot aluminum market.