Aluminum prices stayed high June 15,trading on Shanghai Futures Exchange showing market's ups and downs. But downstream buyers weren't biting,so transaction prices dropped. Mainstream spot prices? At a discount of 90–100 yuan per metric ton against SHFE aluminum 2607 contract.
East China saw its selling sentiment index flat at 2.96 month-over-month . Meanwhile,purchasing sentiment index slipped to 2.76,down 0.06 from last month. Night session had aluminum futures rebounding,but central China showed softening signs before opening . Prices pulled back more after market opened. Downstream processing enterprises mostly sat out,feeding weak sentiment.
Suppliers weren't keen to hold prices steady,leading to a consistent drop in quotes. Actual transaction prices in central China? Around a discount of 170–190 yuan per metric ton against SHFE aluminum 2607 contract . Selling sentiment index there nudged up to 2.92,up 0.01 month-over-month. But purchasing sentiment index fell to 2.20,down 0.01.
Aluminum ingot stocks in major consuming areas? Down 0.7% month-over-month,thanks to destocking in Guangdong and Wuxi…
