East China spot aluminium trades weaken as weak prices sideline downstream buyers

SHANGHAI, Jun 3 (SMM) – Spot aluminium trades in east China weakened from Friday on the morning of Monday June 3, as weak prices deterred downstream consumers from making purchases.

Traded prices in the Shanghai were mostly heard at 14,150-14,170 yuan/mt this morning, down 10 yuan/mt from Friday morning. The premium over the SHFE 1906 contract stood at 10-20 yuan/mt.

Spot deals occurred at 14,150-14,170 yuan/mt in Wuxi and 14,180-14,200 yuan/mt in Hangzhou this morning.

Trades in southern markets, meanwhile, remained brisk at the start of the week, bolstered by active transactions between traders and restocking by downstream consumers after the weekend.

Spot aluminium traded at 14,230-14,240 yuan/mt in Guangdong this morning, with the spread with Shanghai prices barely changed at 80 yuan/mt.