South China Aluminum: Prices Drop Remarkably with Rising Selling Interest

SHANGHAI, Nov.17 (SMM) – The most active SHFE aluminum contract prices moved down  and lacked momentum of rebound on Thursday. Cautious sentiments dominated market, and cargo holders in South China were more willing to move goods, while downstream purchases were modest. As a result, spot aluminum prices were dragged down, with main transactions done at RMB 16,190-16,220/mt. Since traders were not so active in sticking to the price, spot premiums over prices in Shanghai narrowed to RMB 130/mt. Limited transactions were done in the market.