South China Aluminum: Transactions Quiet, Markets Expect Improved Consumption Next Week

SHANGHAI, Feb. 3 (SMM) – The most active SHFE aluminum contract prices struggled at RMB 16,200/mt on Friday, and wait-and-see sentiment became stronger in spot aluminum markets. In South China, transactions for spot aluminum were modest with soft downstream consumption. Meanwhile, traders were unwilling to move goods. With the approach of the Lantern Festival, most traders were expecting resumption of production at downstream enterprises, and held prices at RMB 15,900-15,920/mt. Transactions did not improve in general.