South China Aluminum: Futures Prices Rise Slightly, Consumption Remains Steady

SHANGHAI, Apr. 20 (SMM) – SHFE aluminum 1207 contract prices opened at RMB 16,090/mt on Friday and dipped to RMB 16,060/mt. As the rising Shanghai Stock Exchange Composite Index shored up market confidence, SHFE aluminum prices surged to an intraday high of RMB 16,110/mt. Spot prices in Nanhai were between RMB 16,050-16,070/mt. Traders reported stable sales recently, and modest demand for replenishment was reported ahead of the weekend. However, with limited goods arrived, inventories of traders decreased. Trading market did not show significant changes on the whole.