Lower spot aluminium prices improve downstream purchasing interest

SHANGHAI, Mar 27 (SMM) – In the morning of Wednesday March 27, downstream spot aluminium consumers in east and south China showed greater interest in purchasing, compared to earlier in the week, as prices fell.

In Shanghai, spot aluminium mostly traded at 13,870-13,880 yuan/mt, down some 70 yuan/mt from Tuesday morning. Premiums over the front-month April contract on the Shanghai Futures Exchange came in at 280-300 yuan/mt, narrower than 320-340 yuan/mt in the previous morning.

Spot deals mostly occurred at 13,870-13,880 yuan/mt in Wuxi and 13,880-13,900 yuan/mt in Hangzhou this morning.

Spot aluminium mostly traded at 13,870-13,880 yuan/mt in Guangdong this morning, flat with prices in Shanghai.

Markets saw adequate supplies this morning, while smaller arbitrage opportunities and lower prices kept traders from purchasing.