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The SHFE January contract rebounded from earlier lows during morning trades of Monday. Spot discounts in Shanghai were heard at 80-70 yuan/mt against the SHFE 1901 contract, compared to 70-60 yuan/mt seen on Friday morning.
Most transactions were done at 13,600-13,610 yuan/mt in Shanghai and Wuxi and 13,620-13,630 yuan/mt in Hangzhou. The prices were up close to 50 yuan/mt from Friday.
Aluminium prices were higher than last week, which eroded purchasing enthusiasm among large buyers.
Most transactions in Guangdong were heard at 13,780-13,790 yuan/mt.
While sellers in Guangdong were keen to cash in in the last week of 2018, traders and downstream consumers stood on sidelines and trading activity was thin.
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