South China Aluminum: Downstream Buying Interest Down After Weekend Stock Replenishment

SHANGHAI, Oct. 10 (SMM) – SHFE aluminum prices opened high on Monday after China’s National Day holiday. Meanwhile, downstream buyers in south China were eager to purchase for replenishment on the first weekend after the holiday, leading to a slight increase of spot aluminum prices in the local. Mainstream transactions were done at RMB 17,050-17,090/mt, resulting in premiums of RMB 50/mt over Shanghai from discounts seen in the pre-holiday market. With stock replenishment in the weekend and low orders, buying interest turned down on Monday, leading to inactive trading sentiment.