Spot aluminium prices unchanged across eastern markets amid brisk transactions
According to the latest update by Shanghai Metals Market, today, on December 5, traded prices of spot aluminium across eastern markets remained unchanged from the previous day and transactions between traders remained brisk.
The SHFE 1812 contract traded rangebound in morning trades. Spot discounts in Shanghai, were heard at RMB50-40 per tonne, flat from Tuesday. In Shanghai and Wuxi, most transactions were heard at RMB 13,650 per tonne to RMB 13,660 per tonne while that in Hangzhou at RMB 13,680 per tonne to RMB 13,700 per tonne.
Most transactions in Guangdong were heard at RMB13,730-13,750 per tonne , with Guangdong – Shanghai spread at RMB80 per tonne.
SMM found aluminium prices across China markets would likely remain downside in the remaining days of the year as demand weakens and new capacity comes online.
EGA looks at refinancing its underwritten debts of about US$6.7 billion
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