South China Aluminum: Market Optimism Limited, Supply Remains Ample

SHANGHAI, Jul. 9 (SMM) – The most active SHFE aluminum contract rebounded mildly on Tuesday. Aluminum stocks in south China are now around 80,000 mt, but traders there remained eager to sell. Downstream producers purchased only to need, and middlemen were modestly interested in bargain hunting, sending mainstream traded prices up slightly to RMB 14,620/mt, RMB 260/mt over Shanghai.