South China Aluminum: Few Transactions Done in the Market

SHANGHAI, Dec. 14 (SMM) – On Wednesday, SHFE aluminum prices opened lower for the second day with under pressure at RMB 15,900/mt level, attracting more shorts entering into the market. In South China spot market, goods supply was sufficient, but consumption remained soft, with only few deals made in the morning, downstream purchases were rarely reported in the afternoon. Traded prices were between RMB 16,030-16,050/mt. Aluminum prices dropped to nearly RMB 16,000/mt, but transactions were hardly done with strong wait-and-see sentiment in the market.