SHANGHAI, May 30 (SMM) – Sellers and buyers were in a stalemate on spot aluminium prices in east China on Wednesday May 30, SMM learned, with price spreads of about 10 yuan/mt.
In east China, sellers were keen to offload cargoes but reluctant to lower their offers. Downstream consumers purchased only on demand.
Transactions in Shanghai were mostly heard at 14,570-14,600 yuan/mt with discounts of 60-50 yuan/mt against the SHFE 1806 contract. Transactions in Wuxi and Hangzhou were mostly done at 14,570-14,600 yuan/mt and 14,600-14,630 yuan/mt, respectively.
In Guangdong, sellers were also keen to release cargoes while downstream consumers held back. Transactions in Guangdong were mostly heard at 14,620-14,650 yuan/mt with Guangdong-Shanghai price spreads remaining unchanged at 50 yuan/mt.
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