Spot aluminum largely traded between RMB 12,750-12,760/mt in Shanghai on Monday, discounts of RMB 0-10/mt over SHFE 1501 aluminum contract, versus RMB 12,740-12,750/mt in Wuxi and RMB 12,790-12,800/mt in Hangzhou. Sellers rushed to sell against pullback in SHFE aluminum and growing arrivals over the weekend. Buyers sat tight now that supply is abundant, sending prices down.
Processors entered the market due to a rally in SHFE aluminum and approaching weekend.
Zhejiang Yaang Pipe Industry Co., Limited
Article Tags:Shanghai aluminum prices