South China Aluminum: Aluminum Futures Drop Further with Wait-and-See Sentiment Growing

SHANGHAI, Oct. 17 (SMM) – SHFE aluminum dropped further in the afternoon on Monday, causing spot aluminum prices in south China to fall. Traded prices were dragged down by depressed downstream consumption to nearly RMB 16,900/mt. Despite bearish outlook, cargo holders were reluctantly to sell goods at low prices. There was a strong wait-and-see sentiment in the market and mainstream transactions were done at RMB 16,900-16,930/mt. Trading market was quiet in general on Monday.