SHANGHAI, Sept. 1 (SMM) – Traders flocked to east China spot market out of bullishness after SHFE 1709 aluminum rebounded, while downstream producers still bought as needed.
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Mainstream traded prices were 16,220-16,260 yuan/tonne in Shanghai, discounts of 250-240yuan/tonne over SHFE 1709 aluminum, versus 16,220-16,250 yuan/tonne in Wuxi and 16,200-16,220 yuan/tonne in Hangzhou.
China Aluminum Stocks Refresh Nearly 10-Year High, SMM Says
Many downstream producers in Zhejiang closed due to environmental issue, hurting local demand, SMM found.
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