Spot aluminum largely traded between RMB 12,470-12,550/mt in Shanghai on Wednesday, discounts of RMB 0-20/mt and premiums of RMB 0-20/mt over SHFE 1501 aluminum contract, versus RMB 12,460-12,540/mt in Wuxi and RMB 12,490-12,580/mt in Hangzhou. SHFE 1501 aluminum contract fell below RMB 12,500/mt as SHFE copper was heavily battered. This left sellers in physical market in a rush to sell, weighing prices down. Lower prices lured some buyers in. Sellers held back goods after SHFE aluminum rebounded later in the day.
Zhejiang Yaang Pipe Industry Co., Limited