South China Aluminum: Selling Interest Improves over Falling Prices and Increasing Inventories

SHANGHAI, Nov. 15 (SMM) – The most active SHFE aluminum contract opened lower and continued to fall on Tuesday. The decline expanded with pressure at daily moving average, lowering buying interest in spot market in South China. Downstream buyers were cautious and only purchased as needed early in the day. In the afternoon, although spot aluminum prices moved down, buyers were not attracted to purchase at low prices, with main transactions done at RMB 16,290-16,330/mt. Cargo holders were obviously more active in moving goods with increasing inventories. The market turned quieter in general.