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Rising Aluminum Prices in East China Cool Buying

Release time:2014-11-26

Nov 26, 2014 05:18 GMT   Source:SMM

 

SHANGHAI, Nov. 26 (SMM) – Spot aluminum largely traded at RMB 13,700-13,710/mt in Shanghai and Wuxi on Wednesday, discounts of RMB 40-50/mt over SHFE 1412 aluminum contract, versus RMB 13,750-13,760/mt in Hangzhou. Sellers in physical market demanded higher prices now that SHFE front-month contract has moved higher, cooling downstream buying.