East China Aluminum Prices Fall Sharply on Growing Pessimism (Jun. 30, 2015)

SHANGHAI, Jun. 30 (SMM) –Spot aluminum largely traded between RMB 12,480-12,490/mt in Shanghai on Tuesday, discounts of RMB 80-110/mt over SHFE 1507 aluminum contract, versus RMB 12,470-12,490/mt in Wuxi, and RMB 12,500-12,520/mt in Hangzhou. SHFE 1507 aluminum fell sharply, triggering strong pessimism in spot market. The month-end cash crunch depressed buying. Holders of hedged goods rushed to sell.