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East China Aluminum: Spot Price Steady at RMB 18,500/mt with Low Selling Interest
Edited by : AL CIRCLE
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Morning traded prices of spot aluminum in Shanghai on August 2nd were between RMB 18,500-18,530/mt, with premiums of positive RMB 50-80/mt over SHFE current-month aluminum prices. Low-iron aluminum was traded between RMB 18,580-18,620/mt. Traded prices of spot aluminum in Wuxi were between RMB 18,500-18,530/mt. After SHFE current-month aluminum prices opened lower and tested RMB 18,500/mt, selling interest at lower prices turned low among goods holders, which helped spot aluminum prices consolidate at RMB 18,500/mt. Market transactions were slightly sluggish due to strong wait-and-see sentiment among downstream buyers and middlemen.
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