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East China Aluminum: Market Sentiment Lowered with Middlemen Purchase Interest
Edited by : AL CIRCLE
1 min read
Traded prices of spot aluminum on July 6 in Shanghai were between RMB 17,550-17,580/mt, with premiums of positive RMB 50-80/mt. Low-iron aluminum was traded between RMB 17,580-17,620/mt. Traded spot aluminum prices in Wuxi were RMB 17,550-17,580/mt. As SHFE current month aluminum price fluctuated at RMB 17,500/mt, spot aluminum prices reached a 3-year high. Despite limited supply, the middlemen purchase interest lowered due to high aluminum prices. Meanwhile, downstream purchasers remained cautious. As a result, market sentiment was a little low.
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