South China Aluminum: Prices Rise, Trading Picks Up

SHANGHAI, Jul. 22 (SMM) – SHFE 1310 aluminum contract prices inched up on Monday, raising expectations that aluminum prices will resist declines for the near future. Cargo holders in South China held off from selling against lower inventories, pushing spot aluminum prices up to RMB 14,670/mt, almost RMB 300/mt higher than in Shanghai. Downstream producers showed low buying interest, while middlemen were actively bargain hunting. Trading in South China was much more active in East China.