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Aluminum trades stayed low

Date 11/9/2018 4:49:53 PM Source: SHMET

SHANGHAI, Nov 9 (SHMET) – Trading of aluminum remained weak on November 9, though aluminum price slightly reduced from yesterday.

SHFE aluminum consolidated in a narrow range bound this week. Alumina price has risen this month and downstream plants have not improved.

Overseas supply of alumina remained tight, as Norsk Hydro’s alumina plant would operate at half capacity according to latest news.

LME aluminum slightly stabilized recently, and hovered below $2,000/mt.

In the Shanghai spot market, aluminum was quoted at 13,850 yuan/mt to 13,890 yuan/mt today, down 30 yuan/mt. Spot aluminum traded at a discount of 40 yuan/mt to flat against SHFE 1811 aluminum contract. Some traders started to quote against SHFE 1812 aluminum contract.

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