Shanghai Metal Market
East China Aluminum: Transactions Limited as Bearish Tone Prevails
Edited by : AL CIRCLE
1 min read
Traded prices of spot aluminum in Shanghai were between RMB 17,510-17,550/mt on September 19th, with premiums of RMB 120-160/mt over SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 17,610-17,650/mt. Traded prices of spot aluminum in Wuxi were between RMB 17,480-17,530/mt. As spot aluminum consumption did not improve as expected in September, and with increasing capital pressure approaching the month end, goods holders actively moved their goods at premiums above RMB 100/mt, with only a few exited the market due to low inventories. Purchases in the market were rarely seen as downstream buyers were consuming inventories. Market transactions, therefore, were extremely limited.
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