South China Aluminum: Cargo-holders Sell Goods at Low Prices before Holiday on Bearish Outlook

SHANGHAI, Sept. 28 (SMM) – Few deals were done in the spot aluminum market in Guangdong on Wednesday, with downstream producers making limited purchases. Despite that SHFE aluminum prices narrowly fluctuated after opening higher on Wednesday, cargo-holders were still bearish towards the outlook, and actively sold goods at low prices before the coming Chinese National Day holiday, pulling down spot traded prices. Mainstream transactions were done at RMB 17,070-17,110/mt, with prices lower than Shanghai spot aluminum prices. In general, transactions were sparse in south China aluminum market.