South China Aluminum: Prices Increases Limited over Weak Consumption

SHANGHAI, Dec. 12 (SMM) – SHFE aluminum prices opened higher but fell below RMB 16,100/mt later on Monday, depressing the market. In South China spot market, spot aluminum inventories reduced due to fewer shipments arrived, resulting in lower selling interest among cargo holders. Meanwhile, downstream buyers were not willing to buy despite decreasing prices due to the lack of orders. As a result, increases in prices were limited with main transactions done at RMB 16,130-16,160/mt. Transactions were modest in the market.