East China Aluminum: Prices Inch Down on Soft Downstream Demand

Mainstream traded prices for spot aluminum in Shanghai were RMB 14,400-14,420/mt on Friday, RMB 0-20/mt lower than SHFE 1307 aluminum contract prices. Low-iron aluminum was traded below RMB 14,570/mt. The most active SHFE aluminum contract inched down, triggering bearishness over spot aluminum. Supply was ample, but downstream demand was soft, bringing mainstream traded prices down to RMB 14,400/mt. A majority of traders expect aluminum price s to fall further in the coming week.

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