South China Aluminum: Transactions Muted over Short Supply and Weak Demand

SHANGHIA, Jan. 11 (SMM) – SHFE 1204 aluminum contract prices opened higher at RMB 16,150/mt and moved between RMB 16,170-16,220/mt on Wednesday. Spot prices for aluminum ingots in Nanhai were between RMB 16,050-16,070/mt. Despite some transactions done at RMB 16,080/mt, traded prices for mainstream transactions were at RMB 16,050/mt. According to traders, with less aluminum ingots arriving recently, spot premiums expanded. However, with downstream demand remaining weak, the premiums are not likely to sustain. Transactions were still muted on the whole.