May 27 (LTIT) –Downstream buyers for spot aluminium across east and south China took a wait-and-see stance in the morning of Monday May 27, as prices sharply rose.

Trades in Shanghai occurred at 14,340-14,350 yuan/mt, before following prices of futures lower to 14,320-14,340 yuan/mt. This was up about 100 yuan/mt from Friday morning, and widened the premium over the front month June contract on the Shanghai Futures Exchange to 20-30 yuan/mt.

Spot deals occurred at 14,320-14,340 yuan/mt in Wuxi and 14,370-14,380 yuan/mt in Hangzhou this morning.

Spot aluminium traded at 14,420-14,440 yuan/mt in Guangdong this morning, with the spread with Shanghai prices at 100 yuan/mt.

Despite normal trades across southern markets, trading activity across eastern markets remained brisk as some downstream buyers restocked after the weekend.