Shanghai Metal Market
South China Aluminum: Spot Market Quiet after SHFE Metals Fell to Stops
Edited by : AL CIRCLE
1 min read
SHFE aluminum soon fell to a stop after its afternoon opening on September 23rd. Though it resumed trading later, its loss was maintained near 4%, and spot aluminum market in South China turned quiet as a result. Transactions were slightly active before the afternoon opening as downstream buyers stocked up before the weekend. After SHFE metals fell to tops, goods holders became unwilling to move their goods due to limited supply, and most downstream buyers exited the market being bearish towards future aluminum prices. Market transactions were extremely limited as a result.
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