South China Aluminum: Spot Markets Remain Quiet Ahead of Chinese New Year

SHANGHAI, Jan. 13 (SMM) – The most active SHFE aluminum contract prices moved down with pressure at moving averages on Friday. Transactions were sluggish in spot markets in South China, with both buyers and sellers staying away from markets. Limited deals were made with traded prices between RMB 15,980-16,000/mt. Cargo holders owned rather low inventories and were paying attention to downstream buying interest in the first few days next week since most enterprises will start their holiday later next week.