South China Aluminum: Plunging Aluminum Futures Prices Result in Cautious Attitudes

SHANGHAI, Sept. 26 (SMM) – LME aluminum prices kept dropping in the afternoon and again fell below USD 2,200/mt, pulling SHFE aluminum prices down after its afternoon opening. Downstream buyers in south China exited the market and were on the sidelines due to the intensified bearish mood, left only a low trading volume before afternoon. Meanwhile the goods holders were reluctant to sell goods at lower prices for limited supply, with main transactions traded at RMB 17,030-17,060/mt. In general, caution reigned across the whole market.