SHANGHAI, May 17 (SMM) – Spot aluminium trades across eastern markets improved on Friday as lower prices grew purchasing enthusiasm among buyers.

Trades in Shanghai was done at about 14,350 yuan/mt in early morning trade, and a major trader purchased more than 10,000 mt in eastern markets.

Traded prices in Shanghai fell to 14,310-14,330 yuan/mt later in the morning as prices of futures slipped. This was down 30 yuan/mt from Thursday morning.

Spread relative to the front month contract on the Shanghai Futures Exchange came in at a premium of up to 10 yuan/mt, slightly lower than a premium of 10-20 yuan/mt in the previous morning.

Spot deals occurred at 14,310-14,330 yuan/mt in Wuxi and 14,320-14,340 yuan/mt in Hangzhou this morning.

Aside from lower prices, bullish outlooks and the upcoming weekend also drove traders and downstream consumers across eastern markets to make purchases.

Trades in southern markets, however, saw weaker performance. Spot aluminium was traded at 14,370-14,390 yuan/mt in Guangdong this morning, with spreads over prices in Shanghai expanding to 45 yuan/mt.