SHANGHAI, Jun 5 (SMM) – Spot aluminium trades in east China weakened from Tuesday on the morning of Wednesday June 5, as higher prices eroded buying interest among downstream consumers.
Traded prices in Shanghai were mostly heard at 14,100-14,120 yuan/mt, up 30 yuan/mt from Tuesday morning, snapping a seven-day losing streak.
The premium over the SHFE 1906 contract came in at 10-20 yuan/mt, larger than a maximum of 10 yuan/mt in the previous morning.
Deals occurred at 14,100-14,120 yuan/mt in Wuxi and 14,130-14,150 yuan/mt in Hangzhou this morning.
Spot aluminium trades remained brisk across southern markets, with traded prices mostly occurring at 14,190-14,200 yuan/mt in Guangdong this morning. The spread with Shanghai prices was unchanged at 80 yuan/mt.