East China Aluminum Prices Hold Largely Stable (Aug. 17, 2015)

SHANGHAI, Aug. 17 (SMM) – SHFE 1508 aluminum stayed firm at RMB 12,000/mt on its delivery date. Aluminum prices were mainly between RMB 11,955-11,980/mt in Shanghai on Monday, discounts of RMB 45-20/mt over August aluminum on the SHFE, versus RMB 11,950-11,980/mt in Wuxi and RMB 11,970-11,980/mt in Hangzhou. Supply remained plentiful, despite the delivery date of SHFE 1508 aluminum contract. Market was awash with non-deliverable brand. Deliverable brand ingot traded at premiums of RMB 0-10/mt. Downstream buying was poor, and trading was mainly between traders.