SHANGHAI, Jul. 8 (SMM) – The slump in SHFE 1507 aluminum contract prices weighed down spot prices in east China. Spot aluminum largely traded between RMB 12,050-12,070/mt in Shanghai, Wuxi and Hangzhou on Wednesday, discounts of RMB 40-60/mt over SHFE 1507 aluminum contract. The price slump left sellers unwilling to sell. Processors were cautious about buying, wondering if prices would continue falling.