Rising East China Aluminum Prices Cool Buying (Jun. 23, 2015)

Published: Jun 23, 2015 14:11

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July aluminum on the SHFE drifted lower after opening higher at RMB 12,715/mt on Tuesday, and closed at RMB 12,690/mt near lunchtime.

SHANGHAI, Jun. 23 (SMM) – July aluminum on the SHFE drifted lower after opening higher at RMB 12,715/mt on Tuesday, and closed at RMB 12,690/mt near lunchtime. Spot aluminum largely traded between RMB 12,620-12,630/mt in Shanghai on Tuesday, discounts of RMB 70-80/mt over SHFE 1507 aluminum contract, versus RMB 12,610-12,630/mt in Wuxi, and RMB 12,650-12,660/mt in Hangzhou. Sellers in Shanghai rushed to sell after prices rose RMB 50/mt, causing spot discounts to widen. Processors were cautious about buying.

Shanghai aluminum prices

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