South China Aluminum: Futures Prices Tumble, Leaving Strong Wait-and-See Sentiment

SHANGHAI, Oct. 20 (SMM) – Most active SHFE aluminum contract plunged on Thursday, falling below RMB 16,000/mt mark. As a result, spot aluminum market was immersed in gloom, with few inquiries from downstream buyers. Meanwhile, some cargo holders were also reluctant to sell goods at low prices, dragging the already low traded prices to decline, with mainstream transactions done at RMB 16,380-16,420/mt. SHFE aluminum and zinc fell to down limit in the afternoon, causing strong wait-and-see sentiment. Trading market tended to be quiet in general.