Shanghai Metals Market
South China Aluminum: Consumption Decreases, Prices Hit Low Point Again
Edited by : AL CIRCLE
1 min read
The most active SHFE aluminum contract prices slipped rapidly after s brief rally on Wednesday. In the afternoon, prices dropped further, and consumption in South China spot market decreased significantly as a result. With the approach of month end, downstream buyers were facing financial pressure, dragging down spot aluminum prices. Prices hit new low again despite support at RMB 16,100/mt due to the unchanged low selling interest of cargo holders. Mainstream transactions were done at RMB 16,100-16,130/mt. Trading market was modest in general.
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