Spot aluminum largely traded at RMB 14,740-14,800/mt in Shanghai on Tuesday, a premium of RMB 10-20/mt over SHFE 1409 aluminum contract, versus RMB 14,790-14,820/mt in Wuxi and RMB 14,750-14,800/mt in Hangzhou. SHFE 1409 aluminum contract extended gains, hitting as high as RMB 14,775/mt. This encouraged sellers in spot markets to raise offers further. Higher offers drove downstream producers to the sidelines.
Zhejiang Yaang Pipe Industry Co., Limited (www.nctv.net)