South China Aluminum: Aluminum Prices Down with Some Sellers Lowering Prices for Cash

SHANGHAI, Apr. 12 (SMM) – SHFE aluminum prices moved up on Thursday, but given low buying interest in spot market and with the approach of delivery day, most cargo holders quoted with premiums over the SHFE aluminum price. At midday, mainstream transactions were done at RMB 16,000/mt. In the afternoon, SHFE aluminum prices rose further, but some cargo holders eager for cash offered below RMB 16,000/mt, with the lowest quotations hitting RMB 15,980/mt. As most downstream buyers have completed purchases, trading turned quiet.