Shanghai Metals Market
East China Aluminum: Weak Downstream Consumption Lead to Spot Discounts
Edited by : AL CIRCLE
1 min read
Traded prices of spot aluminum in Shanghai were between RMB 15,870-15,900/mt on Friday, with discounts of RMB 20/mt to premiums of RMB 10/mt over the SHFE current-month aluminum price. Low-iron aluminum was traded between RMB 15,920-15,960/mt in Shanghai. Traded prices of spot aluminum in Wuxi were between RMB 15,870-15,900/mt.
SHFE aluminum prices rebounded strongly with the SHFE current-month aluminum price surging to RMB 15,900/mt. However, downstream purchases were weak due to higher prices, dragging down spot prices with discounts over the SHFE current-month aluminum price. Spot prices moved down as supply were sufficient in the market, leaving transactions quiet.
SHFE aluminum prices rebounded strongly with the SHFE current-month aluminum price surging to RMB 15,900/mt. However, downstream purchases were weak due to higher prices, dragging down spot prices with discounts over the SHFE current-month aluminum price. Spot prices moved down as supply were sufficient in the market, leaving transactions quiet.
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