SHANGHAI, Jul. 8 (SMM) – Spot aluminum prices in China will see no turnaround in the short term, Shanghai Metals Market sees.
Most downstream buyers are cautious about buying, in anticipation of even lower prices on the horizon, SMM has learned.
The recent fall in spot prices was due mainly to onset of off-season, and partly because of falling SHFE aluminum.
Spot aluminum largely traded between 12,050-12,070 yuan per tonne in Shanghai, Wuxi and Hangzhou on July 8, down 250-260 yuan per tonne from a day earlier, SMM data showed.
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