South China Aluminum: Downstream Buyers on Sidelines against Rising Prices

SHANGHAI, Dec. 1 (SMM) – Traded prices for aluminum in Nanhai were mainly between RMB 16,260-16,290/mt on Thursday, up RMB 185/mt compared to previous trading day. In spot market, traders were actively selling goods even at slight lower prices due to the surge of spot prices. However, few purchases were reported among downstream buyers with strong wait-and-see sentiment, leaving market rather quiet. Most traders were cautious and the shipments arrived at local warehouses were less than earlier.