South China Aluminum: Limited Deals Reported in Spot Markets

SHANGHAI, Feb. 2 (SMM) – On Thursday, SHFE aluminum prices fell after rising first in the morning, depressing market confidence. In South China, consumption was moderate, with only a few downstream buyers purchasing on an as-needed basis. Given the low downstream buying interest, cargo holders were not intended to cut prices for cash flows despite their willingness to sell goods. Most traders were waiting for downstream enterprises to resume production after the Lantern Festival. Both seller and buyers chose to stay out of markets, and mainstream transactions were done at RMB 15,920-15,940/mt. Trading volumes were also limited.