East China spot aluminium trades weaken after prices climb

SHANGHAI, Jul 10 (SMM) – Spot aluminium trades across east China weakened after prices climbed during the second trading session in the morning of Wednesday July 10, as traders held back from purchasing.

In early morning trade, trades across eastern markets were brisk, with most occurring at 13,700-13,710 yuan/mt in Shanghai and Wuxi.

Traded prices across the two regions then followed futures higher to 13,720-13,750 yuan/mt before midday, up 20 yuan/mt from Tuesday morning and with a premium of a maximum of 10 yuan/mt over the July aluminium contract on the Shanghai Futures Exchange.

Trades mostly occurred at 13,740-13,760 yuan/mt in Hangzhou.

In Guangdong, spot aluminium deals mostly occurred at 13,740-13,750 yuan/mt before climbing to 13,750-13,760 yuan/mt. This further narrowed the spread with Shanghai to 30 yuan/mt.

Overall trades across eastern and southern markets improved from the previous day.