South China Aluminum: Prices Rise Slightly, Consumption Remains Quiet

SHANGHAI, Feb. 28 (SMM) – On Tuesday, discounts of spot aluminum prices over SHFE aluminum prices maintaining at RMB 150/mt, while downstream consumption remained modest. Thus, many spot aluminum traders in Guangdong were actively buying aluminum, which can be delivered in the SHFE market for arbitraging trade at large spot discounts, helping drive spot prices up slightly. Mainstream transactions were done at RMB 15,880-15,910/mt, with transactions increasing moderately.