South China Aluminum: Prices Remain Downtrend, Markets Expect Improvement in Consumption

SHANGHAI, Feb. 6 (SMM) – Aluminum ingot markets remained a weak trend on the Lantern Festival. On Monday, SHFE 1204 aluminum contract price opened slightly higher at RMB 16,255/mt and fluctuated down, and market players were cautious. Prices for spot aluminum ingot in Nanhai were between RMB 15,910-15,940/mt, up RMB 15/mt from last Friday. Transactions were quiet on the whole and consumption in spot markets did not improve, depressing selling interest among traders. However, some traders still expected purchases would increase in the next few days, so as to drive prices up.