Shanghai Metal Market
East China Aluminum: Quotations Divide, Demand Weaker at Month’s End
Edited by : AL CIRCLE
1 min read
Traded prices of spot aluminum in Shanghai were between RMB 16,460-16,520/mt on October 28th, with premiums of RMB 0-20/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 16,560-16,580/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 16,450-16,510/mt. As support from the EU deal has already been consumed, SHFE aluminum prices opened higher today, but only to erase most gains later. Quotations were divided during the day with some goods holders sticking to above RMB 16,500/mt and many others continuously lowering their quotations to attract buyers. Market demand was quite weak due to tighter capital supply at month’s end, with inquiries or purchases rarely seen. Market transactions were quite sparse as a result.
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