South China Aluminum: Cargo Holders Held back Goods, Trading Moderate

SHANGHAI, Mar. 29 (SMM) – SHFE 1306 aluminum contract slide below RMB 14,600/mt on Friday, but later bounced back to this mark, easing market panic. Most cargo holders in Guangdong held back goods after spot aluminum there retreated from RMB 14,500/mt. A few traders held offers firm at RMB 14,480/mt. Downstream producers replenished some stocks, pushing traded prices up slightly. Spot aluminum failed to break through RMB 14,500/mt, though. Overall trading was moderate.